Think of all the people you communicate with regularly to run your LLC.
Business partners, employees, banks, lawyers, and financial advisors all probably come to mind. But what about the state? It may not be at the top of your list, but running a successful LLC in Wyoming requires consistent interaction with the state.
Formation documents, business information changes, lawsuits, professional licenses, and Annual Reports – all of these (and more) require you to work with state agencies. The good news is that you don’t need to do it yourself.
Introducing the registered agent. A Wyoming registered agent is an intermediary for your LLC, a person or company that handles your communication with the state. They’re a vital part of any LLC’s success. Before you file your Articles of Organization, you’ll need to have a designated registered agent. How? Why? Who? Read on to find out.
You’ve got enough on your plate. Hiring a registered agent service lets you hand off those responsibilities so you can focus your energy where your passion lies. Let us at ZenBusiness handle the paperwork for just $99 the first year (LegalZoom charges $299).
What is a Wyoming Registered Agent & is it Necessary?
An LLC cannot be formed or do business in Wyoming without first having a registered agent on file with the Secretary of State. This is required by law and the penalties can be serious. Maintaining a registered agent doesn’t just keep you in good standing. It also provides an important service.
Think of your registered agent as your ambassador to the state, handling all your LLC’s important legal, tax, and compliance information. This can either be an individual, company or registered agent service, as long as they agree to take on the role by signing and submitting a Consent to Appointment form.
As soon as they’re appointed, your registered agent must be consistently available in Wyoming to receive and act on mailed documents and service of process. Here’s what the Wyoming Secretary of State specifically says:
And make sure you have a valid registered agent on file at all times, because the state isn’t messing around – they will administratively dissolve your LLC if you go more than 30 days without an agent.
What are the Requirements of a Registered Agent?
While Wyoming is fairly flexible with registered agent appointments, you can’t just pull anyone off the street to assume the role. An acceptable registered agent must:
- Be an individual that resides in Wyoming, or a company authorized to do business in the state.
- Have a physical address in Wyoming.
- Have a mailing address in Wyoming (P.O. boxes are not allowed)
- Be over 18 years old.
The Wyoming Secretary of State provides these registered agent requirements and duties on a document called “How to Find (or Become) a Registered Agent.”
You can also find a summary in the Articles of Organization, on which you must officially declare a registered agent by providing their name and address.
Before your registered agent can officially take office, they must also sign the aforementioned Consent to Appointment form, confirming your selection. Check it out below.
When you’ve got potential options for your registered agent, review each one to make sure that they meet these requirements. If they do, you’re good to go! If not, you’ll need to keep looking.
Who can be a Registered Agent in Wyoming?
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Wyoming’s registered agent requirements are pretty broad, so you’ll have no shortage of options. On top of that, your agent can be either an individual or a professional service. But think carefully before choosing, because each option has its own pros and cons. Let’s take a closer look.
You may choose to appoint a single person as your registered agent. Some LLC owners take on registered agent duties themselves. Others appoint one of their partners or managers. Some will even appoint a family member. As long as the proposed agent fulfills the state’s requirements, they’re a valid option.
In addition to being a Wyoming resident, your agent must not currently be establishing residency or receiving benefits in another state, even if that residency is still forthcoming.
Some smart registered agent choices include attorneys, accountants, or other LLC partners, people who understand the ins and outs of business operations.
- Convenience – Having familiarity and mutual trust with your registered agent is extremely beneficial, and appointing an acquaintance can provide both. Plus, you’ll always know how to contact them.
- Cost – Hiring someone you know often won’t cost a dime. It’s certainly cheaper than a professional service.
- Scheduling – Part of a registered agent’s duty is being consistently available to receive mailed documents and service of process. If your agent goes on vacation or moves out of state, it will throw a wrench in your plans.
- Punctuality Risks – Some state communications and filings are very time sensitive. If your agent is unavailable when documents are delivered, it could slow down the entire process and put you at risk for late fees and penalties. Even worse, a friend or family member could lose or misplace a document. So if you’d rather not interrogate Aunt Louise about the location of a particular tax form, you might consider using a registered agent service instead.
Registered Agent Service
If safety and reliability is your goal, hire a registered agent service. A business acting as your registered agent must be either a domestic entity in Wyoming or a foreign entity who has foreign qualified in Wyoming.
- Privacy – Some documents delivered to your registered agent will contain sensitive information. Do you want details about your lawsuit or taxes lost out there in the world? Definitely not. A friend or family member might misplace these documents, but a professional service will not. Plus, in Wyoming, all registered agent names and addresses are available to the public. This might make an individual uncomfortable, but hiring a company will keep this personal information off the record.
- Reliability – Handling and processing time-sensitive documents is a registered agent service’s specialty, its area of expertise, its main game. Hire a professional service and you can be sure that your filings will be submitted properly and punctually, so you’ll never have to deal with late fees or other penalties.
- Location – Many registered agent companies offer service in most or all 50 states, so if business is booming and you decide to expand outside Wyoming, you won’t need to find a new agent for each state.
- Cost – There’s no getting around it – hiring a service costs more than appointing an individual who’s willing to do it for free. However, for a reasonable price (roughly $100/year), you’ll receive premium services. Taking your car to a mechanic costs more than letting your neighbor try to fix it, but the mechanic gives you peace of mind that the job will get done right, and that may very well be worth the cost.
All of the other steps in the LLC formation process will keep you busy, but take some time to ensure you find a registered agent that fits with your business model, goals, and values. Do this, and your LLC will reap the benefits for years to come.
Registered Agent Changes and Resignation
You may have a wonderful registered agent, someone who takes care of everything efficiently and who you trust completely. But you know what they say: all good things must come to an end. At some point in the life of your LLC, you may need to change your Wyoming registered agent.
To make it happen, you must file a Change of Registered Agent and Office form by mail or in person. The form should include the name and address of your former agent and your new agent. In order to make the change official, the new agent needs to sign a Consent to Appointment form as well. There is no fee for this form.
There are a number of reasons you might need to file for a change, but the most common is a registered agent’s resignation.
In Wyoming, your agent must notify the LLC 30 or more days before submitting the official resignation form. The agent can, if they like, appoint a successor (approved by your LLC), or leave it up to you.
If your agent appoints a successor, that person or company will take over as soon as the resignation is processed. Otherwise, you will have 30 days to bring on a replacement. Take any longer and your LLC risks administrative dissolution by the state, so make sure you line up a new agent and file your change form right away!
Questions or Concerns?
This guide contains almost everything there is to know about Wyoming registered agents. However, you might have a unique situation that requires additional information. Reaching out to the Wyoming Secretary of State is easy, and they’ll have the answers you need. Here’s how to go about it:
Visit Their Website
Visit the Secretary of State website for more information about registered agents in Wyoming.
Give Them a Call
Contact their Cheyenne office at (307) 777-7311.