Whether we’re talking weather, vacations, or bags of potato chips, all good things must come to an end, and that includes registered agent duties. There are numerous reasons you might need to give up your Idaho registered agent role, but only one way to resign.
Registered agents play an important role in the life of an LLC, handling sensitive legal and tax documents, so it’s essential that agents follow proper resignation procedures. Otherwise, you could leave your company with unplanned fines or penalties, and you could be individually liable.
But fortunately, resignation isn’t a long or difficult process for Idaho LLCs.
Follow these steps and the hardest part of your resignation won’t be the process itself, it’ll be saying “so long” to your former business.
Time Saving Hack: You can resign as registered agent, get all state paperwork taken care of and have a replacement agent when you hire an online registered agent service.
Notifying the Idaho LLC
Idaho doesn’t require you to inform the LLC that you’re leaving until after you have submitted your official resignation with the Secretary of State. After filing your “Statement of Resignation,” you must promptly notify your company, according to Idaho Code, Section 30-21-410.
Still, because the registered agent is an important role, it’s nice to give your LLC notice in advance. This way, they can prepare more effectively to change their registered agent and avoid potential penalties.
Submitting Your Resignation
Your resignation isn’t official until it’s on file with the Secretary of State. To start the process, head over to the SOSbiz portal. You need to create an account if you don’t already have one. From there, you can file online or download the most recent “Statement of Resignation Form.”
However you choose to file, you’ll need the following information:
- Your name
- The LLC’s name
- The name and address of the LLC representative to whom you will send your official notice
- Your signature
Not bad at all, right? If you’re filing online, that’s the end of the process. If you printed and completed a hard copy, mail it to:
Secretary of State
PO Box 83720
Boise ID 83720-0080
You can also drop it off in person at 450 N 4th St., Boise ID 83720.
The best part is that there’s no fee to file this form, so you won’t need that checkbook or credit card. But don’t forget to send an official notice to your LLC after you’ve filed with the S.O.S.
Standard Processing time is 7-10 days, but if you’re in a hurry, you can pay a $20 fee for eight-hour expedited service. After your resignation has been processed, you will remain on file as the LLC’s registered agent for 31 days or until the LLC appoints your replacement, whichever comes first.
Handing off Your Responsibilities
When you put down your registered agent responsibilities, someone else has to pick them up, or your LLC will lose its good standing with the state. Help your LLC keep its momentum by carefully planning your transition.
This starts with finding a successor who’s ready to take over right away. Even a small gap in registered agent coverage can result in severe penalties. After you resign, if your company goes more than 60 days without a registered agent, they risk being administratively dissolved by the state. It’s a severe penalty, which is why it’s important to establish a good transition plan beforehand.
Once you’ve nominated a replacement, confirm that they meet Idaho’s registered agent requirements. They must:
- Be an individual or business entity residing in Idaho
- Have a physical Idaho address (P.O. boxes aren’t allowed)
- Have a mailing address in Idaho
- Be available during general business hours to receive documents and service of process
If your agent is a foreign business entity, make sure that it is authorized to do business in Idaho and has a physical address there. You can serve as the registered agent for your own LLC, but sometimes it’s easier to hire a professional.
We recommend using a registered agent service, which can take over registered agent duties, freeing up more time for the LLC’s managers to focus on running the business.
You do a lot for your Idaho LLC. You’re essentially the shield that protects it from fines, the filter that catches important documents, the conductor that keeps it on track with compliance.
Because you play such an important role, it’s crucial that you follow the resignation procedures exactly — and potentially provide a replacement agent for the business. Otherwise, you might find yourself and your LLC in hot water.
Follow this guide and you’ll be totally fine. Soon, you’ll be on to your next project, whether that’s starting a new business in Idaho or something completely different.