Got a letter from my registered agent saying they're resigning. Do I need to panic or just find a new one? Also what happens if there's a gap where I don't have one? I run a tiny Etsy shop out of my apartment, so this is all new to me.
LLC Compliance
What happens if my New Jersey LLC's registered agent resigns?
You have 30 days to appoint a new agent in NJ. If you don't, the state can revoke your LLC's authority to do business. So not panic, but don't sit on it either.
Wait, they ccan just resign? I thought they had to stay until you find a replacement. That seems like a huge loophole.
Nope, they can resign whenever, but they have to file a statement with the state and notify you. That's why you got the letter.
This happened to me last year. I just used one of those online services, cost like $50. Took ten minutes. Not a big deal unless you ignore it.
So if I get a new one within 30 days, I'm fine? Do I need to tell the state I changed agents?
The new agent usually files the change for you. At least mine did. Just double-check they actually did it.
Also check your LLC's operating agreement. Some of them require you to notify members or something when the agent changes. Probably overkill for a one-person shop but worth a peek.
Can you just be your own registered agent? Seems cheaper.
You can, but your address becomes public record. For a home-based Etsy thing that might not be ideal.
Yeah I wouldn't. I had a weird guy show up at my house once because my address was on the state website. Never again.
That's terrifying. But also, if you're not home during business hours, you might miss a lawsuit summons. Then you lose by default. So there's that
Okay, definitely not using my apartment. I'll just pay for a service. Thanks all. One more thing—does the state send me a reminder if I forget?
They might, but don't count on it. NJ isn't exactly known for hand-holding.
This thread is making me realize I have no idea who my registered agent even is. I just paid a service and forgot about it.
You should log in and check. Seriously. That's how people end up with revoked LLCs and don't find out until they try to open a business bank account.
Or until they get sued and nobody tells them. Fun stuff.