The government can sometimes overwhelm business owners and entrepreneurs with compliance red tape and mountains of paperwork. However, not all mandates are as inconvenient as they seem, such as electing a Minnesota registered agent.
A registered agent is more helpful than not, especially if you don’t want to risk losing your good standing with the Minnesota Secretary of State. This article will explore the responsibilities of a Minnesota registered agent, why you need the best registered agent service, and how to elect or change an agent to remain compliant.
Key Takeaways
An elected Minnesota registered agent is legally empowered to receive paperwork for their client’s LLCs, corporations, and nonprofit organizations.
Minnesota registered agents must be adult state residents with a physical address or businesses authorized to transact in the state.
A Minnesota registered agent is state-mandated to remain in good standing and ensure compliance with the Secretary of State.
What Is a Registered Agent?
Registered agents, also known as statutory agents, are points of contact elected by companies to handle their legal correspondence. A Minnesota registered agent can accept service of process and similar critical legal documents on their client’s behalf and forward them at a convenient time.
All Minnesota LLCs and other business structures need a registered agent to remain compliant and in good standing. You also need a registered agent to obtain and retain a license to operate in the state.
But not everyone can be a registered agent. Some may not meet the requirements, while others can’t fulfill the responsibilities attributed to a Minnesota registered agent. Here’s what you should know about the responsibilities and duties of a registered agent.
Registered Agent Responsibilities
Minnesota State Law lays out precise requirements for registered agents. Understanding their responsibilities is essential to choose the right agent for your company.
Key responsibilities include the following:[1]
Accepting legal documents and service of process paperwork for their clients
Forwarding documents via agreed-upon means in a timely fashion
Maintaining good standing with the Minnesota Secretary of State
Notifying the Minnesota Secretary of State about registered office address changes and similar organizational modifications
Remaining available during regular business hours to ensure same-day delivery of important legal documents
Delivering notifications for annual report or biennial report filings, franchise tax, and related deadlines
Making their registered office addresses available in the public record
Choosing Your Minnesota Registered Agent
There’s no way to get around electing a Minnesota registered agent for your limited liability company or corporation. But, Minnesota business owners have a broad range of choices for who they choose to be their agent.
Minnesota Registered Agent Requirements
Both individuals and business entities can serve as registered agents. Individuals must be Minnesota residents over the age of 18. Business entities can be domestic or foreign, but all foreign entities must be allowed to transact in Minnesota to be eligible.
Here are additional requirements that can help you identify qualified registered agents:
Maintain a residency or business presence in the state
Have a physical street address as the registered office
Be available during regular business hours to accept documents
It’s worth mentioning that your own business can not be your Minnesota registered agent. Even if you meet all the above requirements, you can’t put your company’s name in the registered agent field on the Articles of Incorporation or Articles of Organization forms.
Can I Be My Own Registered Agent in Minnesota?
Yes, you can be your own registered agent in Minnesota. You or a company officer can be your company’s agent if you meet the individual statutory agent requirements above.
But this opportunity isn’t as exciting as it seems on the surface. Here are some advantages and disadvantages to consider.
Advantages
Disadvantages
Save a few hundred dollars per year in outsourcing fees by nominating someone from your company
Add mountains of paperwork on top of your busy plate
Get legal documents quickly if someone already keeps regular business hours during the week
Risk misplacing documents and missing deadlines with potential fees and penalties
Keep your legal dealings confidential without intermediaries
Risk default judgment for not accepting service of process paperwork
Avoid spending time researching the best registered agent service or negotiating fees
Add additional costs if you need to rent a new office as an out-of-state company
Remove your privacy with the obligation of recording your address in the public domain with the Minnesota Secretary of State
Get served with a summons at home or the workplace
Benefits of a Third-Party Registered Agent
Electing a professional registered agent in Minnesota is a more convenient and safe choice for busy entrepreneurs. It gives you access to expertise and many other high-value perks, including the following:
Gives your company complete scheduling flexibility to travel, work irregular hours, create hybrid work environments, or even work from out of state
Removes the risk of missing deadlines through automatic legal correspondence management and same-day delivery and notifications
Adds the benefit of legal advisory services when completing and filing paperwork with the proper state authorities
Maintains focus and in-house productivity to protect and increase revenue
Keeps your physical address private
Relieves the pressure of dealing with piles of paperwork, legal documents, and junk mail
Streamlines potential office relocations, business name changes, paperwork, and communications with the Minnesota State Secretary
Forwards critical legal documents online to get in touch with you whenever and wherever
Avoids the embarrassment of service of process paperwork by forwarding the documents discretely via acceptable and secure channels
Our registered agent service fulfills your state requirement while adding these benefits to your business. We pride ourselves in offering high-quality services that protect your privacy and simplify compliance needs.
How to Set Up Your Minnesota Registered Agent
If you’re ready to set up your registered agent, we’ll file your formation documents on your behalf while fulfilling your registered agent requirements. Alternatively, you can name your statutory agent when you file for your LLC or corporation.
Electing a Minnesota Registered Agent
When creating your LLC or corporation, you must elect a Minnesota registered agent on your Articles of Organization or Articles of Incorporation.[2, 3] You can submit these forms online with the Secretary of State or via mail.[4]
Remember to fill out the forms with the requested registered agent information, which may include the following:
Name
Address
Signature
Contact information
You can use the following address to submit your paperwork. Domestic corporation and LLC registrations currently cost $135 each in state fees if you mail or submit the documents in person. [5]
Minnesota Secretary of State – Business Services
First National Bank Building
332 Minnesota Street, Suite N201
St. Paul, MN 55101
Changing a Minnesota Registered Agent
It’s often easier and cheaper to change your Minnesota registered agent. All you need to do is submit a Change of Registered Office and Agent form and include the old and new agent’s names, registered office addresses, and other requested information.[6]
Limited liability companies currently pay $35 in state filing fees when submitting the form via mail or $55 for in-person or online filings.
The same fees apply to the domestic business corporation Change of Registered Office and Agent form. Foreign entities pay a premium to amend original document statements and change statutory agents.
It’s worth noting that online filings get processed in a single business day, while mailed filings can take up to seven business days. Walked-in documents may be processed even faster, sometimes while you wait.
FAQs
Who can be a Minnesota registered agent?
Business owners can elect one of two entities as Minnesota registered agents – individuals or other companies. Registered agents must be state residents and at least 18 years old (for individuals) and maintain a public physical street address in the state that serves as a registered office. Domestic and foreign corporations and LLCs qualify, but a business can not serve as its own registered agent.
How much does a registered agent in Minnesota cost?
A business can pay anywhere from $50 to $300 for a Minnesota registered agent. Swyft Filings currently charges $149 per year. Costs vary among service providers due to their different offerings, niche services, continuity pricing models, and other considerations.
How can I change my registered agent in Minnesota?
You must file a Change of Registered Office and Agent form online, via mail, or in person with the Secretary of State Business Services division.[6] While the process is cheap and painless, you can hire a new third-party registered agent service provider to handle the filing procedure for you.
How can I find a registered agent in Minnesota?
Finding a registered agent in the state of Minnesota is easy. Many Minnesota business owners conduct search engine queries, use the Secretary of State online portal to look up businesses and registered agents, or ask for recommendations from local Minnesota business owners.
What is a Minnesota registered office?
The registered office is the place of business of a registered agent. It’s where an agent accepts and signs for service of process and similar legal correspondence on their client’s behalf. The registered office must be a physical street address, not a P.O. box, UPS mailbox service, or another mail forwarding service.
What’s the difference between a registered agent and a resident agent or statutory agent?
Registered, resident, and statutory agents are the same, and you can use all three interchangeably. The terms refer to a business or individual with state-mandated responsibilities and requirements as a contact point for legal correspondence.
What is a registered agent service?
A registered agent service is a third party that fulfills the registered agent requirements on behalf of the business. Swyft Filings offers a reliable registered agent service that maintains your privacy, provides immediate access to vital documents, and gives you more time to focus on your business.
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Bibliography
Minnesota Legislature. “2022 Minnesota Statutes.” Accessed December 29, 2022.
Minnesota Secretary of State. “Minnesota Limited Liability Company | Articles of Organization.” Accessed December 29, 2022.
Minnesota Secretary of State. “Minnesota Business Corporation | Articles of Incorporation.” Accessed December 29, 2022.
Minnesota Secretary of State. “Business & Liens.” Accessed December 29, 2022.
Minnesota Secretary of State. “Business Filing & Certification Fee Schedule.” Accessed December 29, 2022.
Minnesota Secretary of State. “Notice of Change of Registered Office/Registered Agent.” Accessed December 29, 2022.
