Iowa Registered Agent
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What Is an Iowa Registered Agent?
A registered agent acts as a point of contact between a business and the state of Iowa. They receive all communication from the state, including service of process. They then notify the business of this communication and get important documents uploaded to a digital server for easy access. Businesses in Iowa are required by law to have a registered agent. The benefit is that they prevent confusion since the state knows exactly who to contact. Businesses are held accountable for meeting deadlines as they cannot pretend that the wrong person received their mail. Registered agents are elected upon the formation of a business but can be changed down the line.What Are the Requirements to Be a Registered Agent in Iowa?
The requirements to be a registered agent are not strict. One must be 18 or older, maintain a physical address in Iowa, and keep regular business hours. Therefore, one option is for you to be the registered agent for your business. Similarly, a family member, friend, business partner, or employee could also be your registered agent. However, many companies prefer to hire registered agent services, and we’ll talk about this more in our next section.Why Businesses Need an Iowa Registered Agent
As we explained, businesses in Iowa must have a registered agent because doing otherwise would be breaking the law. However, registered agent services are very useful and would be worth taking advantage of even if the law didn’t require it.
In this section, we’ll explain the many perks of having a registered agent. We’ll also share some reasons why you might prefer to hire a registered agent service rather than be a registered agent yourself.
Compliance
Every year, the state of Iowa requires businesses to submit certain documents, such as annual reports. It’s important that businesses file these on time or they could lose their good standing. Losing good standing could also mean losing limited liability protection. In the worst-case scenario, a business could be banned from operating in Iowa. Therefore, it’s essential to meet deadlines and remain compliant. Similarly, businesses must also respond to service of process by the given deadline. Not doing so could incur fees and certainly wouldn’t do the business any favors for winning the lawsuit. Registered agents help businesses by keeping calendars of due dates and sending reminders. They make sure businesses have every opportunity to stay on track and submit annual reports on time.Privacy
A registered agent’s address is public record and easy to find on the Iowa Business Entities Search. If you don’t like the idea of your personal address being easy to find, then you’ll want to hire a registered agent. If your business is based at a physical location, you may be tempted to use its address to be a registered agent. However, this may not be without issue. For example, if you receive service of process, it can happen in front of employees and clients. Not only would this be embarrassing, but it may lower morale by causing workers to question their job security. On the other hand, if you hire a registered agent, they act as your representative and get served at their location on your business’s behalf. Therefore, you’ll be notified discreetly.Online-Only Business
It’s no secret that the internet has taken the world by storm. In fact, according to the 2018 U.S. Census, 85% of households reported having an active internet subscription. Because of how prolific the net is, it’s possible to have a successful business completely online. However, if your business does not have a physical address and you’re not comfortable with yours becoming public, then your best bet is to hire a registered agent.Irregular Business Hours
One of the requirements to be a registered agent is to keep regular business hours so that it is easy for the state of Iowa to reach you. For some business owners, working regular hours just isn’t realistic. Aside from that, you may also need to do things like take business trips or visit different company locations. Both would prevent you from keeping regular hours. Hiring a registered agent gives you the freedom to work whenever you want, wherever you want. Registered agent services always have someone available to receive communication.Organization
Part of a registered agent’s role is keeping documents well organized, especially on digital servers. It’s vital that businesses can easily access all their important files. It’s certainly true that anyone could do this type of clerical work, but a hired registered agent service will always have someone available to scan and upload documents to a digital server. If you act as your own registered agent, you may be too busy to organize files immediately. Aside from that, registered agents also keep track of important due dates and send reminders. Hiring a registered agent takes this weight off your shoulders.Locations in Different States
If your business operates in different states, you need to have a registered agent in each one. Hiring a registered agent service with locations in many states tends to be a great option as you only have to deal with one company rather than several.What to Look for When Choosing an Iowa Registered Agent
If you’re interested in hiring a registered agent in Iowa, then you have plenty of options. In fact, it may be hard to choose between them. In order to pick the best registered agent for your business, we recommend keeping three factors in mind: price, services provided, and time saved.