Before you can form a limited liability company (LLC) in Idaho, you need to designate an official point of contact so that the state and others can get in touch with your business. That person (or company) is called a registered agent. We’ll tell you below what the registered agent is, their duties, and the requirements to be one.
What is an Idaho Registered Agent?
A registered agent is an individual or company designated by the entity to receive important legal documents and official state correspondence on behalf of the business.
What does an Idaho Registered Agent do?
A registered agent is required by Chapter 21 of the Idaho Business Organizations Code. The law states that business entities, including LLCs, must appoint and continuously maintain a registered agent and registered office within the state. The agent must be available during normal business hours to forward any service of process, notice, or demand pertaining to the LLC to the appropriate individuals. This position is necessary because it ensures that the correct people in the LLC are notified in the event of time-sensitive events, which could include service of process for lawsuits, garnishment notices against employees, and tax notices.
Who can be a Registered Agent in Idaho?
To be a registered agent in Idaho, you need to be one of the following:
- An individual with an Idaho physical address (i.e., not a Post Office box)
- A registered Idaho domestic business entity with an Idaho physical address
- A foreign business entity with an Idaho physical address.
Can I be my own Registered Agent in Idaho?
Legally, you can be your own agent, as long as you are a resident of the state with a physical address and are generally available during business hours.
Should you be your own Idaho Registered Agent?
It’s not the best option for everyone. Consider the following reasons for hiring a service to act as your registered agent instead of doing it yourself.
- Availability – A registered agent must be available at the principal address during normal business hours. This can tie you to your office all day when you want to be meeting with clients, running errands, etc.
- Compliance Reminders – Registered agent services sometimes provide reminders on the state requirements, such as regular report filings. Forgetting these things can get you in trouble with the state of Idaho.
- Penalties and Fees – Failure to continuously maintain a current registered agent can lead to penalties and fines for your LLC, in addition to the potential for administrative dissolution.
How is a Registered Agent Appointed in Idaho?
You’re required to name your registered agent when you complete the Certificate of Organization with the state to form your LLC, so you’ll have to decide who your registered agent or registered agent service will be before you begin that process. Be sure to inform whomever you’re appointing and get their permission to serve in that role.