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 Wisconsin 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.
Fortunately, for Wisconsin LLCs it is easy.
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.
Notifying the Wisconsin LLC
During the resignation process, you aren’t required to inform your LLC. You only need to file an official resignation form with the Department of Financial Institutions and after it’s processed, they will mail a copy to your company. Still, speaking with your LLC beforehand can benefit all parties involved. Giving them more time to plan a registered agent change will help the LLC avoid potential penalties and maintain good standing with the state.
Plus, according to the Wisconsin Statutes Section 183.0105, even after your resignation is processed, you will retain registered agent duties for 30 days unless the LLC appoints a replacement sooner. Giving them extra time to line up a new agent can help cut that 30 days short.
Submitting Your Resignation
You may be thinking about the exciting new opportunities that lie ahead, but before moving on, you must file a “Resignation of Registered Agent” form with the Department of Financial Institutions (DFI). It’s located on the LLC forms section of the DFI website.
Download the form and you’re ready to complete it. Do so using a PDF editor (like Adobe Acrobat) or black ink. Here’s the information you’ll need to provide:
- The LLC name (including fictitious name, if applicable)
- The state where the LLC was formed
- The registered office address
- The LLC’s principal office address
- Date on which the resignation was executed
- Your name
- Your signature
- Your email or mailing address
- Your daytime phone number
This filing comes with a $10 fee, payable by check or money order made out to “Wisconsin Department of Financial institutions.” When everything is ready, mail your document and payment to:
State of Wisconsin
Department of Financial Institutions
P.O. Box 93348
Milwaukee, WI 53293-0348
Typical processing time for the Department of Financial Institutions is five business days. If you need it done sooner, you can check the box for expedited service on the form and include an additional $25 payment. As mentioned earlier, you will remain on file as the LLC’s registered agent for 30 days unless they bring on a replacement sooner. Just keep in mind that you may still receive service of process for one month after you resign.
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. All Wisconsin LLCs are required to maintain a valid registered agent for the entire life of the business. After your resignation, your LLC must have a new agent on record before it files its next Annual Report or else it will be administratively dissolved.
Anyone appointed as your replacement must meet Wisconsin’s registered agent requirements, which means they must:
- Be an individual or business entity residing in Wisconsin
- Have a physical Wisconsin address (P.O. boxes aren’t allowed)
- Have a mailing address in Wisconsin
- Be authorized to do business in the state, if a foreign entity
LLCs are allowed to assign registered agent duties to one of their individual members. However, it can often be easier to outsource those duties to a professional service.
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 Wisconsin 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 Wisconsin or something completely different.