When opening an LLC, it’s best to set up the finances so that the flow of money and ownership is clear. One way to ensure this is to open a separate bank account for each LLC you are planing to open. This will not only benefit you, but also your bookkeeper. Opening up a bank account for each LLC will allow your money to be tracked and flow clearly through each LLC. For asset protection reasons, you may have the money flow through from one LLC to an “owning LLC” and then directly into your bank account. There may be extra bank fees, but in the long run you will be thanking yourself for opening up a separate Bank Account. You may be wondering, “Why can’t I use my personal bank account to set up these LLCs?” The answer to that question is because you set up a business, which means it is its own entity and separate from you. Each entity needs to have its own separate bank account.
Required Paperwork for LLC Bank Accounts
Bank account requirements will vary from bank to bank, however most banks will require your Articles of Organization, business license, Operating Agreement, and Employer Identification Number (EIN). You will also need the members who have signing authority to be present when the account is opened. Do your research, and bring the correct papers prior to going to the bank and setting up an account for your LLC.
Do I Need a Resident Agent?
Now you may be asking yourself, “Do I need a registered agent?” If so, you came to the right place. A registered agent (also known as a ‘resident agent’, statutory agent’ or ‘agent of process’) is there to accept service of process, meaning if a lawsuit is served on your entity the notice will go to the registered agent. If Corporate Direct provides registered agent service for your entity, we contact you immediately to notify you of the service of process and provide you with a copy right away.
If you operate your business in your home state, in many states you may choose to be your own registered agent but you expose your personal information as the owner of the entity. Also, many states require that the registered agent maintain regular business hours, for example Monday through Friday, from 8:00 a.m. to 5:00 p.m. If the registered agent (you) is not available during regular business hours and a process server attempts to serve legal documents on your entity, they can proceed in requesting a default judgement against you from the courts. That would mean you automatically lose the case. By now you can see the importance of maintaining a commercial registered agent.
Registered Agent Service Available in All 50 States
Get a registered agent to cover this legal requirement and ensure you receive all important legal documents such as notice of a lawsuit and official governmental notices. Service for all 50 states is available. Sign up now for Registered Agent Service for $125 a year below. Get a year of Registered Agent Service for free if you sign up today for three years, or form a new entity with us.
Save $125 – Get 4 Years of Service for the Price of 3
Buy 3 years of registered agent service and receive a free year – that’s 4 years for the price of 3! You’ll pay $375 for a value of $500! Who doesn’t appreciate a savings of $125?
We’ll cover any fees required to change your registered agent,* which can cost up to $60 depending on the state. (*Excludes Pennsylvania foreign registered entities – please call for quote. This offer cannot be combined with any other offer. Fee quoted is for one entity in one state.)
If you form a new entity with Corporate Direct, your first year of registered agent service is free! So imagine signing up for the 4 FOR 3 offer and receiving 5 YEARS of registered agent representation for the price of 3.
- A Corporate Direct Incorporating Specialist will be assigned to your account.
- Corporate Direct has a Better Business Bureau A+ rating.
- Receive prompt, professional notification service for legal documents by email, fax or regular mail.
- Get the best customer service in the industry.
- Switch to us, and receive $100 off incorporating your next entity.
- Get a free year of registered agent service if you incorporate a new business with us.
- We’ve helped over 10,000 clients in our 27 years.
Switch, save money and gain superior customer service.
Corporate Direct’s regular annual fee for registered agent service is $125 and the change of registered agent filing fee can be up to $60, depending on the state.
That doesn’t even include the cost savings of switching to Corporate Direct. Some other companies sell registered agent services at $289 year. At that price, you’ll be saving money every year.
What Garrett Sutton’s Corporate Direct Stands For
The Corporate Direct team follows the tenants of our founder Garrett Sutton, a corporate attorney, asset protection expert and best selling author who has sold more than 850,000 books that guide entrepreneurs and investors. Garrett is also a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. We love enabling entrepreneurs to achieve their dreams through providing them with the knowledge and resources they need to be successful. That is why each time a client hires us to incorporate a new business we include the free book Bulletproof Your Corporation and we seek to make this website a resource.