No, a Registered Agent can’t open a bank account for an LLC.
Banks require that all of the LLC Members (owners) be present in order to open a bank account.
We’ll explain what a Registered Agent is and why they can’t open a bank account for your LLC.
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Only need RA service? Use this link instead ($125 per year).
(Learn why we recommend Northwest in our review)
What is a Registered Agent?
A Registered Agent is a person or business that receives state notices and legal documents on behalf of an LLC.
Note: Most states use the term Registered Agent. But some states use the term Agent for Service of Process, Resident Agent or Statutory Agent. These terms all mean the same thing.
State law requires every LLC to have a Registered Agent at all times.
The Registered Agent serves as the point of contact for an LLC. And it’s important to know that the Registered Agent’s address is public record.
A Registered Agent doesn’t own or control an LLC. They simply receive and forward important documents on behalf of the LLC.
Who can be a Registered Agent?
In most states, you actually have 3 options for who can be your LLC’s Registered Agent:
- You can be your own Registered Agent.
- A friend or family member can be the Registered Agent.
- You can hire a professional Registered Agent Service.
Your Registered Agent must have a physical address in the state where your LLC is located.
They must also be available to accept “Service of Process” during normal business hours (Monday through Friday from 9am to 5pm).
Service of Process is the delivery of important legal documents, like:
- subpoenas
- notices
- summons and complaint
Special offer: Hire Northwest to form your LLC ($39 + state fee), and you'll get a free year of Registered Agent service.
Only need RA service? Use this link instead ($125 per year).
(Learn why we recommend Northwest in our review)
If your Registered Agent is a person (you, a friend, or a family member), then they must:
- be 18 years old, and
- a resident of the state where your LLC is located.
They should also be comfortable with their address being on public record.
If you hire a Registered Agent Service, it must be registered to do business in the same state as your LLC.
If privacy is a concern for you, hiring a Registered Agent Service is a great way to keep your address off of public record.
We recommend Northwest Registered Agent.
Northwest has been in business for 28 years and they have excellent customer support.
They will also let you use their business address throughout your LLC paperwork so you can keep your address off of public record.
And if you hire them to form your LLC, they’ll give you 1 year of free Registered Agent Service.
Is a Registered Agent a Member or Manager of an LLC?
No, listing someone as your Registered Agent doesn’t make them a Member or Manager of your LLC.
That said, an LLC Member or Manager can also be the LLC’s Registered Agent if you’d like (and they meet the Registered Agent requirements).
The important thing to know here is that simply listing a person or business as your Registered Agent doesn’t automatically make them a Member or Manager of your LLC.
Why can’t a Registered Agent open a bank account for an LLC?
As stated above, banks require that all Members of an LLC are present when opening a bank account.
So unless one of the LLC Members is serving as the Registered Agent, then your Registered Agent won’t be able to open a business bank account for your LLC.
And if someone is both an LLC Member and a Registered Agent, they’re only able to open the business bank account because they’re an LLC Member.
Without the authority that comes with being the Member of an LLC, a Registered Agent can’t:
- Sign on behalf of the LLC,
- Enter into contracts on behalf of the LLC, or
- Open accounts for the LLC (including bank accounts).
FAQs
Can a Registered Agent sign on behalf of an LLC?
No, your LLC’s Registered Agent can’t sign on behalf of your LLC.
As stated above, your Registered Agent doesn’t own or control your LLC. So, they don’t have the authority to enter into contracts or sign on behalf of your LLC.
That said, when you hire a Registered Agent Service to act as your LLC’s Registered Agent or an LLC Formation Service to file your Annual Report, they may submit a filing to the state on your LLC’s behalf.
Since you hired them to perform that specific service, they may be able to sign as an “authorized person” to complete that single filing.
For more information, please see Can a Registered Agent sign on behalf of an LLC?
Can a Registered Agent be held liable?
No, your LLC’s Registered Agent can’t be held liable for the debts and lawsuits of your LLC.
This is because your Registered Agent doesn’t control the day-to-day operations of your LLC or own its assets.
Said another way, since a Registered Agent doesn’t own or control your LLC, they can’t be liable for it.
For more information, please read Can a Registered Agent be held liable?
What if my Registered Agent is named in a lawsuit against my LLC?
Even though your Registered Agent doesn’t own or control your LLC and isn’t liable for your LLC, mistakes can happen.
Your LLC’s Registered Agent and their address is public record. Sometimes, more information is available about your Registered Agent than your LLC.
Because of this, sometimes a Registered Agent may be named in a lawsuit against your LLC by mistake.
This listing is usually something your Registered Agent has to handle on their own, but it may be a good idea to let them know if you see they are named in the lawsuit.
What do I need from my LLC to open a bank account?
In order to open an LLC Bank Account, you’ll need:
- your LLC’s approved Articles of Organization
- your EIN Confirmation Letter (or EIN Verification Letter)
Most banks also require that all LLC Members are present when opening a bank account. And you’ll each need 2 forms of ID.
Some banks also require you to bring a copy of your LLC Operating Agreement.
We recommend calling your bank ahead of time to ask for a list of everything you’ll need to bring to meet their specific requirements.
For more information about LLC bank account requirements (and banking recommendations), please read LLC Bank Account.
Do Registered Agents file Annual Reports?
No, your Registered Agent doesn’t automatically file your LLC’s Annual Report.
The Registered Agent duties are to accept state notices and legal documents on behalf of your LLC, and then forward them to the LLC owners (called Members).
That said, many Registered Agent Services also provide business filing services.
You may be able to hire your Registered Agent Service to submit your LLC’s Annual Report by paying an additional fee, and providing them with the information needed to complete the filing.
Can a Registered Agent be a PO Box?
No, you can’t use a P.O. Box for your Registered Agent’s address in most states.
It must be a physical address where someone can receive documents in person in case Service of Process arrives for your LLC.
Matt holds a Bachelor's Degree in business from Drexel University with a concentration in business law. He performs extensive research and analysis to convert state laws into simple instructions anyone can follow to form their LLC - all for free! Read more about Matt Horwitz and LLC University.
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