When you start a business, you face a lot of different decisions. One of the most crucial things to decide is what type of entity you want to become.
Registering a business requires multiple steps, and in most cases, you'll have to list a registered agent. You can fill this role yourself, but it would make your life a lot easier to use an official registered agent instead. National Registered Agents, Inc is a great company that helps out entrepreneurs who are seeking help with starting a company and ongoing assistance with filing.
This review will demonstrate how you can use NRAI to help get your business started and how they can help you by serving as your registered agent.
Interested in NRAI?
About National Registered Agents, Inc.
National Registered Agents, Inc opened its doors in 1995, intending to be a more efficient and cost-friendly agent service solution than the competition. To date, they've managed over one million clients.
To become the best, the partners of National Registered Agents, Inc., who are all former business owners with a wide variety of experience, formed a state-of-the-art processing system.
This program ensures all legal documents get received, recorded, and delivered using the company instructions and makes all documents easily accessible to customers for signing.
In 2011, National Registered Agents, Inc combined with CT Corporation, another industry leader for corporate compliance. CT Corp started back in 1892 and built up quite a reputation for being the best in legal business compliance and incorporation for small to medium businesses.
Combined, NRAI now offers even more solutions, expert team members, a wide range of industry knowledge, and personalized customer service. CT Corp and NRAI are subsidiaries of Wolters Kluwer, a massive conglomerate.
Services offered by NRAI include:
- Specialty representation
- Independent director services
- Registered agent services (experienced in all 50 states, D.C., and some foreign jurisdictions)
- Document prepping and filing
Structure Breakdown: Who is National Registered Agents Good For?
National Registered Agents, LLC has a large staff of experienced agents who can help you figure out what type of business to set up. Each entity has different requirements, and expert help can ensure you choose the right option.
Here is a breakdown of each entity type and how NRAI can help you set up each one.
When you set your LLC, the business becomes responsible for any legal issues, civil suits, or liabilities. If someone were to sue the company, they could only go after its assets but not the business owner's private investments.
Establishing an LLC company can be easy, but by law, there must be an appointed registered agent to handle any legal matters required to keep your business in legal compliance.
Letting companies like NRAI act as your registered agent and handle everything saves time and ensures everything is done correctly.
NRAI, Inc can also handle the many steps to register your business as a C or S corporation. Some LLCs may also file as S or C-corp for tax purposes. This situation usually occurs when there is more than one owner. S-corps aren't a type of entity but a tax class.
Managing the business is also more convoluted, requiring a board of directors who oversee the business operation and growth planning. The directors appoint officers (CEO, CMO, CTO) to handle the day-to-day management. NRAI offers independent director services to help with board and trustee matters.
Partnerships are a business arrangement between two or more entrepreneurs who jointly own a business. This type of entity makes filing taxes easier as each partner will file their business taxes on their personal returns.
The downside of partnerships is that personal assets are at risk, and legal actions can occur against one partner without affecting the other.
NRAI can help partners set up a legally registered partnership and draft a partnership agreement that sets terms for the operation. A registered agent can also help you decide whether you want to use a partnership or file as an LLC entity instead. Registered agents are not required for partnerships in every state, but they do help with day-to-day business activity and take some pressure off legal filing.
Sole proprietorships are single-owner businesses that have not registered as an LLC or corporation. These entities do not offer the same protections as LLCs, so if your company gets sued, the claim can include your personal assets.
Setting up a sole proprietorship is more straightforward than registering multiple owners of LLCs, partnerships, and corporations. A sole proprietorship is not required to use a registered agent. However, you'll still get plenty of advantages from using NRAI instead of managing it all alone.
Unfortunately, NRAI does not seem to manage non-profits. If you are interested in starting an NP, you will be required to assign a registered agent. There are plenty of other registered agent services on the market that are able to support non-profit organizations.
National Registered Agents Packages & Pricing
When it comes to pricing, there was a significant lack of transparent pricing options on NRAI's site. When navigating the website in search of pricing, they do not clearly state the prices for their services.
It took a lot of digging to figure out that you'll pay $405 a year for this company's services. This is an exceptionally high price considering they only provide registered agent services.
NRAI does not offer any cheaper packages or customizable features. Having only one package is a bit of a letdown, especially considering the high price tag.
Compared to other registered agencies, this price is on the very high end. Most other companies charge less than half of this cost.
If you want to register your business to operate in multiple states, you'll also incur an annual $319 fee for each extra state. This fee is yearly, in addition to your subscription fee.
You may also have to pay for any filing fees, licenses, certificates, and other costs associated with setting up or maintaining your business.
Overall Value vs. The Competition
Ultimately, it's hard to justify the limited services and lack of transparent pricing when comparing NRAI to the competition. Cheaper (and higher quality) options like ZenBusiness and Incfile are likely better for most companies.
National Registered Agents Document Management & Online Experience
When you choose National Registered Agents, Inc, you will get access to a registered agent in your state who will know your state's laws and procedures for starting a business.
If you operate in multiple states, you'll have different agents managing each state's rules. Having agents that know state-specific rules saves you from doing research and staying regularly updated on new changes.
Any time your business receives important documents, NRAI uploads them to their secure private network. You can use their First Serve image process system to have these documents delivered electronically, so you know precisely when papers are filed that you need to review.
You have secure access to all of your data, including customized reports and tools, the history of service processes, and corporate information in an online portal.
NRAI can assist with multiple services, including getting your business established and licensed, providing an address for any legal claims, helping you name and register your business, and managing mergers, amendments, and incorporations.
You get annual reports and immediate updates if there are documents that need your attention or upcoming or ongoing issues. They can even manage lawsuit claims, judgments, and tax liens.
Using a registered agent for your business's official address keeps your personal information private, so your office or home address isn't listed to the public. And it saves you embarrassment if a lawsuit is filed, so police don't show up at your home or office to serve you with papers. They deliver these to your agent, who updates them in the system for you to view.
National Registered Agents Processing Time
NRAI works with agents in each state of the country, which allows for expedited processing times, so you don't have to worry about missing court dates or deadlines. It could not be determined if there is a fee associated with expedited delivery.
Once your registered agent receives documents for your business, they fill out any necessary information and forward them to you for a signature. Once you've signed, you send them back, and they handle all the filing.
Given the regular business hours, any documents your business receives can be ready for you to view within hours or up to two days.
National Registered Agents Compliance & Track Record
Despite having over a million customers, it was hard to track down many reviews from customers who have used NRAI's services.
However, out of the reviews that were available, most of them had positive things to say about the services they've received on behalf of the NRAI.
A look at their reputation on the Better Business Bureau shows no customer complaints. All evidence points to NRAI maintaining legal compliance for their customers.
The only bad thing customers reported about National Register Agencies, Inc is that the price is much higher than similar businesses. And that's without any additional features that would make the higher cost worth the sacrifice of spending larger amounts of money.
National Registered Agents Customer Service
NRAI has a positive reputation for having helpful, knowledgeable, and professional customer service that is friendly and experienced.
You can reach someone for assistance by filling out this form, which requires you to list your name, email, phone number, country, and fill out the message box detailing your issue. With this method, you'll generally receive a response in 24 to 48 hours.
Depending on what department you need to reach, you can also contact support using a toll-free telephone number. Calling the one listed for your specific department cuts down on time you'll spend transferring between agents.
For the sales department to discuss concerns about service information or NRAI products, you can call 1-855-337-0707. If you have questions about your order, invoice, or account, you'll need to contact the customer service department at 1-855-337-0707. And for tech support, you'll call 1-866-328-6724.
If you want to see a list by state for NRAI locations that manage service of processes, you can go here.
The Last Word: Is National Registered Agents Worth It?
National Registered Agents, Inc is a valid option for small to medium businesses looking to set up a sole proprietorship, partnership, LLC, or corporation (C or S). With established relationships in every state in the US and some territories, you're sure to find a registered agent to manage all of your incoming legal papers.
But with such a high cost at over $400 a year, plus additional fees if you operate in multiple states, this agency might not be the correct option for new businesses who are not yet bringing in a high enough profit to cover such high fees. There are many alternatives that offer the same or similar services for a lower annual cost.