A registered agent is a person or company chosen by a corporation to receive official correspondence and other relevant papers on its behalf. Even while working as a registered agent can be rewarding, there are hazards associated. The corporation may experience severe legal and financial repercussions if the registered agent improperly receives or forwards crucial documents, such as a lawsuit or notice of a tax lien. Does my LLC require a registered agent? Yes, a registered agent is necessary for each LLC in Illinois. The registered agent must be an individual who resides in Illinois or a company that is legally permitted to conduct business there. The name and address of the registered agent shall be set forth in the LLC’s articles of organization.
Businesses can obtain compliance services from Harbor Compliance. Through the provision of services like registered agent services, business licensing, and annual report filings, they assist firms in navigating the complicated world of compliance. Businesses can also get assistance from Harbor Compliance with more difficult compliance problems, like international expansion and mergers and acquisitions.
Although it is not necessary to have an operating agreement in order to create a bank account, it is strongly advised. An operating agreement is a legal document that spells out the obligations of the managers and members of an LLC. By proving that the company is a distinct legal entity, it can also help the LLC maintain its limited liability status. A business bank account must also be opened with an operating agreement, which is often required by banks.