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There are very few requirements to maintain a company’s good standing with the state of Delaware.
In addition to paying the annual $50 Delaware Registered Agent Fee and paying the annual Delaware Franchise Tax to the Delaware Division of Corporations, clients need to ensure that we have accurate contact information for their company.
A Registered Agent is the liaison between your company and the state in which it is incorporated. In Delaware, your Registered Agent is your intermediary with the state of Delaware's Division of Corporations.
Delaware Registered Agents are responsible for receiving and forwarding legal documents and correspondence from the Delaware Division of Corporations to clients in a timely fashion. Some examples of documents received and forwarded are Franchise Tax reports, late notices, void notices from the Secretary of State and service of process for legal actions against your company.
The state of Delaware requires that the Registered Agent keeps a Communications Contact on record within its files so that it can receive and forward any legal documentation, government notices or any correspondence from the Delaware Division of Corporations to the company in a timely manner. The communications contact address can generally be from anywhere in the world. As your Registered Agent, this information is simply for our records and not part of the public record.
The State of Delaware mandates the communications contact be a living person who is a manager, officer, director, shareholder, member, employee or designated agent who is authorized to receive notices from the company’s Delaware Registered Agent.
The communications contact must provide valid contact information with a street address; however, for annual billing purposes, Harvard Business Services, Inc. can utilize a P.O. Box. The communications contact does not need to be a United States resident nor have an address in the United States.
Failure to keep the information up-to-date and valid can force the Registered Agent to take drastic action, such as resigning as the company’s Registered Agent in Delaware. This will leave the company without a Registered Agent, which places the company in a forfeited (i.e., inactive) status.
It’s easy to keep your company’s contact details current with Harvard Business Services, Inc. We offer several ways for you to update the communications contact information:
By keeping your communications contact information up-to-date, your company will stay aware of any impending fees due or requirements needed to maintain your Delaware entity in good standing.
Photo Credit: Paladin Zhang
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such source’s content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.
There are 2 comments left for Keep Your Communications Contact Details CurrentRoberto Munoz said: Wednesday, July 15, 2020
I have established a revocable living will. The LLC has three managing members one of which is my 13 year old daughter. How do I title the LLC so that the living beneficiaries have access to the LLC or does this LLC remain alive outside of the Living Will with my spouse and daughter as managing members should I die?HBS Staff replied: Thursday, July 16, 2020
Roberto, take a look at this blog post for some insight: https://www.delawareinc.com/blog/estate-planning-with-a-delaware-llc. Unfortunately, we can't advise you on specific terms for your will and LLC. We recommend you consult an attorney if you need assistance with this.Roberto Munoz said: Wednesday, July 15, 2020
I'm opening an account for my LLC for the first time at the bank. While I have a Delaware registered company, I live in Florida. What are the minimum documents needed to open a business account and obtain a credit card.?HBS Staff replied: Thursday, July 16, 2020
Each bank will have its own set of requirements for opening an account. For the most accurate information, we recommend contacting your bank to ask what documents are needed. We would be happy to assist you in obtaining any documents you need from the state of Delaware.