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Tell Me More About Annual Report Services

Annual Report Services are one of the truly invaluable ancillary services we offer our registered agent clients.

Most jurisdictions have annual filing and/or tax requirements. In order to stay in good annual report servicesstanding and maintain any legal protections your entity may provide, it’s important these obligations are fulfilled.

Why are Annual Report Services so invaluable?

For reasons we mentioned above, it’s important for your entity to remain active and in good standing. Failure to do so may result in penalty fees, a loss of good standing, and could ultimately find your entity involuntarily dissolved or its authority revoked. While it is usually possible to recover from these situations, it can be a major headache and the costs can really add up. So, why chance it? Annual Report Services are often compared to insurance, as they help insure you don’t miss these crucial deadlines.

To assist with remaining compliant, we offer two options for Annual Report Services:

Option One – Annual Report Monitoring Service (ARMS)

Annual Report Monitoring Service is a reminder service for those do-it-yourselfers who just want a friendly reminder when obligations are due for their entities. With ARMS, we will remind you 60 days ahead of the due date and again 30 days prior. When you get the reminder, you can either fulfill the obligation on your own or tell us you’d like us to handle it for you.

Option Two – Annual Report Filing Service (ARFS)

Annual Report Filing Service is an automated service for those of you who don’t want to worry about it. Think of it as the “auto-pay” feature for your credit card or electric bill. With ARFS, we proactively gather the information we will need to complete any annual filing requirements. When the due date(s) roll around, we prepare and file any reports and/or make annual payments, as well as send you proof of compliance and upload it to your Snapshot account (as available).

If you have any additional questions about or need assistance signing up for one of our Annual Report Services, feel free to reach out to us. We’re here to help make your life easier!

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What is Mail Forwarding?

What is mail forwarding and why would I need it? Well, it is just one of a slew of additional andmail forwarding services highly beneficial services registered agents like us offer. Since each registered agent’s service may vary, we’ll only cover what we offer…

Mail Forwarding Service gives you the ability to use your registered agent’s address as your regular mailing address. So, while official state and governmental mail, tax notices, and Service of Process are forwarded to you under your registered agent contract, other mail received at your agent’s address, such as bank statements, are marked “Return to Sender”, unless you subscribe to the service.

We understand needs vary from client to client, so there are multiple types and tiers of Mail Forwarding Services you can choose from to find just the right fit. For example, there are traditional and electronic versions to choose from. With traditional service, mail is received by the registered agent, logged in your account, and forwarded on to you via United States Postal Service. With electronic service, the mail is logged, opened, scanned, and emailed to you. Electronic mail forwarding is the option many international clients find to be the most valuable. Since the amount of mail coming in also varies, you can choose the volume tier that best fits your needs, whether it’s a few pieces a month or hundreds a year. You can even log into your Snapshot account to view a log of the mail you’re receiving for each company.

If you want to find out more about Mail Forwarding Services or to sign up, feel free to reach out to us. We’d be happy to answer any of your questions!

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What is a Registered Agent and Why Are They Important?

A registered agent is the company or person you designate to receive legal and tax notices for your company. Most jurisdictions legally require entitiesWhat is a registered agent and why are they important? such as corporations and limited liability companies (LLCs) to list a company or individual physically located within the jurisdiction and available normal business hours to serve as this point of contact. Resident agent, statutory agent, and statutory representation are some of the additional titles a registered agent may go by.

So, why is a registered agent important? Well, aside from the legal requirement telling you that you have to have one (which in my book makes them kind of important), a registered agent helps you sustain your business by providing important documents and notices to keep you compliant in the jurisdictions you formed or qualified to do business in. Since these documents and notices usually require an action within a limited amount of time, it’s imperative your agent always has up-to-date contact information for you.

As mentioned earlier, the registered agent will receive and forward important legal and governmental documents and notices. In the case of legal documents such as Service of Process (SOP), you may have only a few days to respond to a summons. If your agent doesn’t have your current contact information, important response dates could be missed, resulting in significant legal repercussions. The same holds true for annual report and franchise tax notices. Invalid contact information may equate to a missed filing date and major headache, with late fees, penalties, and interest continually accruing.

Not only is keeping your registered agent up-to-date with current contact information for your entity important, but so is ensuring your annual registered agent fees are paid. Failure to maintain a registered agent may result in your agent resigning. When an agent resigns, the company is no longer considered to be in good standing with the jurisdiction and you risk losing the legal protections your entity may provide you. Returning to good standing with the jurisdiction then usually requires additional fees and may even involve filing new documents. So, why risk it?

If you have any questions or need assistance with Registered Agent Services, feel free to reach out to us. We’re always happy to help!

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What is Registered Agent Resignation?

Karen Elliott, Assistant Vice President of Incorporating Services, Ltd. shares with us her insight about registered agent resignations.

When forming a legal entity most states require the appointment of a registered agent.  The registered agent is responsible for sending state/government mail and accepting service of process (legal documents).  It is the entity’s responsibility to maintain the registered agent by paying the agent’s annual fee.  If the registered agent is not maintained, the agent has the right to resign as agent, per state statute.

What does resignation of agent mean for your entity?  Once the registered agent resigns your entity is put into an administrative status.  The name of the entity also becomes available for use.  Resignation of agent can cause legal implications for your business, as the right to transact business in the state has been compromised.  It can also result in additional fees, as the entity will need to reappoint the agent.

Quick tips to maintaining a relationship with your registered agent:

  • Reach out to the agent of record, understand their role, form the relationship so you know who to contact with questions, set the agent renewal date based on what works best for your business.
  • Make sure the registered agent has the correct contact information in their system, as this information is used for sending the annual invoices, state/government mail to possibly include annual report notices and the most important, service of process.
  • Set your billing cycle for what works best for your company.  Many clients choose a January – January billing cycle but, Incserv can set this to what works best for you.
  • Pay the registered agent invoice based on the payment terms.

If you have any questions about Incserv’s registered agent services, please feel free to reach out to me via email to info@incserv.com or by calling 302.531.0855.