Frequently Asked Questions (FAQs)
Below are the most Frequently Asked Questions (FAQs). If you do not find the answer to your question, please give us a call at 775.782.6587.
1. What exactly is a Registered Agent (aka Resident Agent, Statutory Agent or Corporate Agent)?
A registered agent is responsible for working on a company’s behalf to assist in receiving legal documents such as Service of Process (i.e., Lawsuits, Liens, Subpoenas, etc.), Annual Reports, Tax Correspondence, and other mailings from regulatory agencies.
2. What’s the importance of having Registered Agent?
According to Wyoming law, every Wyoming Company filed with the Secretary of State should have a Registered Agent. This means all corporations, LLC’s, LP’s should work with a registered agent which is also a matter of public record and should be listed with the Secretary of State. That includes all Corporations, Limited-Liability Companies (LLCs), Limited Partnerships (LP) and other corporate entity types. The Registered Agent is a matter of public record and is listed with the Secretary of State.
3. How about if I don’t have a Registered Agent?
If you want to fall out of favor with the Wyoming Authorities, then just don’t designate and maintain a Wyoming Registered Agent. An obvious consequence of not having a Wyoming Registered Agent is having your business license revoked and this also comes with financial penalties. Doing so would also will also hinder a company’s ability to enter into contracts with other businesses. This can also attract sanctions.
4. What does a Registered Agent do?
The primary responsibility of a registered agent is to receive service of Process (Notices of Litigation for your Co-op). In addition to service of notice documents, the Registered Agent also receives franchise tax documents and annual reports especially those required by the state of Wyoming.
5. Why is a Registered Agent important?
The role of a Registered Agent, is an important one. Let’s say your company gets served with legal papers. You have 20 days to respond to the legal papers. If you miss that deadline, the person suing you can win his case without you ever knowing about it. If you do not respond to the person suing you, a default judgment can be entered against your company. If your Registered Agent is on vacation and fails to send you the paperwork, you could be in trouble.
Don’t risk late fees and penalties, or worse yet a default judgment simply because your company could not be served and failed to respond to a court order in the time prescribed by the law.
6. So, who can be a Registered Agent?
To qualify as a registered agent, it is imperative that the applicant company be located within the State of Wyoming. Choosing a reliable company is a must.
7. Can I act as my own Registered Agent?
If you live in Wyoming, it’s possible for you to act as your own registered agent. However, going with professional is more ideal as it can help you avoid the embarrassment of being handed legal papers in front of your loved ones.
8. Why do some Companies charge exorbitant prices to be a Registered Agent?
There are some incorporating companies that appointed themselves to be registered agents and are charging exorbitant prices. These companies are just taking advantage of business owners as
9. How Can I Change My Registered Agent?
It’s very easy to change a registered agent. You just start by completing the Wyoming Change Form and submit it to your new Registered Agent. It is very simple and quick to do. If you decide to change your Registered Agent to Wyoming Discount Registered Agent, we will prepare and file the necessary form with the Secretary of State so you have No Additional Paperwork or Loss of Time. We value your business and commit to extra mile service that will make you happy with your decision to use Wyoming Discount Registered Agent.
10. Why hire a Wyoming Resident Agent service instead of acting as their own Registered Agent?
Most companies choose to use a professional Registered Agent, such as Wyoming Discount Registered Agent, for numerous reasons including:
- Privacy – Avoid having your clients, vendors, or employees encounter a Sheriff or Process Server serving claims at your place of business. For home-based companies, keep your residential address private and not a matter of public record.
- Compliance – Wyoming Discount Registered Agent provides clients with a Reminder Service so that you aren’t late for critical filings which simplify the maintenance of corporate compliance with Wyoming laws and filing deadlines.
- Efficiency – Make sure that the right person receives any legal documents in a timely manner to protect your company from any delays that could result in a default judgment against your company.
- Adaptability – Save money by not having to pay State fees to update your Registered Agent information each time your company experiences growth and moves.
- Accountability – A professional Registered Agent does not travel or go on vacation, change or terminate employment, or relocate out of Wyoming.
Remember: If your Registered Agent is not reliable, you might even lose your Company’s status and pay considerable penalties.
11. What is a Company’s Registered Office Address?
A registered office is the Company’s physical location where official documents are sent and legal notices received. The Registered Agent should provide the Registered Office address. A company may have other business and correspondent addresses.
13. How is Mail Forwarding Different with a Wyoming Registered Agent?
According to postal regulations over mail forwarding services, you are required to complete a PS Form 1583 and many instances require “PMB” in the mailing address. This stands for Post Mail Box. It tells the sender of the mail that it’s going to be redirected to some other location. Registered Agents are exempted from this requirement.
14. Do I Need A County Business License?
If you form your company with Wyoming Discount Registered Agent, Inc., you are not required to obtain a County Business License. Your Stockholders or Members privacy is protected.
15. Are there any Obligations required for a Foreign Corporations?