Appointing and maintaining a Kentucky Registered Agent is a mandatory requirement for every LLC in the state. The registered agent maintains an address called the registered office of the LLC. The address of the registered office is used for getting in touch with the LLC by the state and the court system.
A primary role of the registered agent is to receive service of process. This includes legal documents like a notice of a lawsuit, summons, subpoenas, etc. Service of process is delivered by process servers at the registered office of the LLC. Therefore, the registered agent should be available to receive the service of process during normal working hours.
The state may also use the registered agent as a general point of contact with the LLC. This includes sending documents like tax notices, payment reminders, etc. A registered agent must be capable of accepting legal documents and notices and informing the LLC about them, as necessary.
Legal Requirements For Picking A Kentucky Registered Agent
An LLC has plenty of freedom in choosing its registered agent. However, the choice should conform to the (few) requirements laid down by the state. These are fairly simple rules and are relevant to the functioning of the registered agent.
- The registered agent must maintain a physical street address in Kentucky. This is the registered office of the Kentucky LLC that the agent represents.
- If the agent is a person, she or he must be a resident of the state and capable of receiving legal documents.
- If the agent is a business entity, it must have permission to do business in Kentucky. The business must have a physical office in the state.
The key requirement here is the ability of the agent to maintain a physical address in the state. This is the address that process servers will reach if they have to deliver legal documents. As such, the state doesn’t allow the use of PO Box addresses or similar services for a registered office.
Choosing a business entity, as listed above, is usually a commercial registered agent. These are companies or businesses that offer specialized services as registered agents in exchange for a fee. It isn’t necessary to choose a commercial agent in this category. Any corporation or LLC authorized to do business in KY can take the role. An LLC can’t be its own registered agent.
Who Can Be My LLC’s Registered Agent? (Becoming Your Own Registered Agent For $0)
Notice that the legal requirements give you plenty of room in choosing a registered agent for your LLC. These requirements aren’t difficult to manage for most people, so there is some levity in choosing the registered agent for your Kentucky LLC.
- You can be the registered agent of your LLC.
- It is possible to appoint family members or friends as registered agents.
- A commercial registered agent can be hired for your Kentucky LLC.
Being your own registered agent will cost you nothing. If you’re up for the job, you can always appoint yourself as the registered agent of your LLC.
You can do so by using your name and address as the registered agent when filing the Articles of Organization with the Kentucky secretary of state.
Whichever of the above options you choose, remember that the agent has to provide a written consent indicating their acceptance of the role.
Responsibilities Of A Kentucky Registered Agent
Now that we understand the legal requirements and the basic premise of the duties of a Kentucky Registered Agent, we should elaborate on them further. Once appointed, the registered agent should understand the importance of their role and the necessities in executing it successfully.
- The registered agent must maintain a physical street address in Kentucky.
- The agent should be available during normal business hours (9 am to 5 pm) in case service of process arrives.
- Should the service of process arrive, the agent has to receive it and inform the LLC of the same.
- The agent may also receive communication from the state. The LLC should receive these or be informed (as necessary).
The agent receives plenty of communication and correspondence. However, this doesn’t mean that your general business correspondence should flow through the agent.
It’s best to keep the agent’s role limited to the necessities of service of process and notifications from the state. Business mail and general correspondence for the LLC can flow through other, more appropriate channels. Of course, this is more a suggestion than a requirement, so choose the path that’s best for your Kentucky LLC.
Are There Any Caveats To Being My Own Registered Agent?
Becoming the registered agent of your LLC or having friends or family members take on the role is cost-effective. It could also seem simpler than hiring a commercial registered agent in Kentucky. That said, some reasons encourage people to hire an agent rather than taking the DIY route.
Reliability is the top consideration in this scenario. As we know, an agent must maintain a physical address and be available during normal business hours. This can be a tough requirement for many individuals.
You could be away on a vacation, or otherwise unavailable when service of process arrives. The chances of this happening are rare, but it is still a distinct possibility.
Another issue, and perhaps more pertinent, is privacy. The address and details of a registered agent form part of the public record. This means they’ll be easily available for anyone willing to search. Additionally, many people, services, or businesses may also gather this address for their own requirements, including, the annoying junk mail.
Many people find it unsavory to have their address so freely available and value their privacy. This often encourages them to choose commercial registered agents. Indeed, many commercial registered agents advertise privacy as a key point of their service.
If you aren’t bothered by these issues or believe they’re irrelevant in your case, it would be fine to be your LLC’s Kentucky registered agent. On the other hand, if you find professional services to be more valuable, hiring a commercial agent could be the answer.
Hiring A Commercial Registered Agent In Kentucky
Several businesses in Kentucky offer their services as commercial registered agents. These include local as well as national companies. The pricing of these agents usually varies depending on the services they offer. In a generic sense, you can expect the agent to cost around $100 annually.
Several considerations can go into your Kentucky registered agent search. Hiring a national company could be better if you intend to expand your LLC to other states in the future. A local agent in your own state or county could perhaps provide additional, more relevant services.
In any case, you should expect the following advantages from a commercial registered agent:
- Reliability: A commercial registered agent is likely to have a fully staffed office. They’d be better trained and capable of receiving service of process or other documents on behalf of your LLC. Plus, they will maintain regular business hours.
- Professional Service: A commercial registered agent will have the professional background and understanding to provide quick, professional service.
- Privacy: Since you’ll use the address of the registered agent in all pertinent filings, your own address can remain off the public record.
- Convenient: Generally, it is more convenient to hire a commercial agent. They handle the duties of the commercial agent, while you focus on your business.
- Discreet: It might be embarrassing or otherwise unsavory for businesses to receive service of process in front of clients, customers, or employees. However, this won’t be a problem if the service of process arrives at the address of your commercial registered agent.
How To Change A Kentucky Registered Agent
Changing the registered agent in Kentucky is relatively simple. You can file the relevant forms online, or submit them via mail or in-person.
Most forms are available on the Business Forms section of the Kentucky Secretary of State’s website. Changing your Kentucky Registered Agent requires filing a Statement of Change of Registered Agent and/or Registered Office. This statement can also be filed online using the Kentucky Business One Stop Portal. The filing fee for either method is $10.
When you file a statement of change, you’ll also have to file a statement of consent of your registered agent. For the sake of clarity, it is usually better to have a Statement of Resignation of Registered Agent.
You cannot change your Kentucky Registered Agent through filing the annual report or by filing an amendment.