Overview of How to Change Registered Agents in New Mexico:
Get Written Consent From Your New Registered Agent
When changing registered agents in New Mexico, you must get written consent from your new registered agent. This can be done with a Statement of Acceptance of Appointment by Designated Successor Registered Agent. This form should be filed with the Secretary of State.
File a Change of Registered Agent Form
Filing a Change of Registered Agent form with the New Mexico Secretary of State is the best way to change your registered agent.
This can be done online via the New Mexico Secretary of State’s Corporations and Business Services website. The steps for this process include:
- Log in to the website
- Under ‘Corporations” select “Registered Agent Change”
- Search for and select your company
- Complete and submit the form, along with an uploaded acceptance form and payment
Fee: $25 for corporations, $20 for limited liability companies (LLCs), and $10 for nonprofits
You can pay this fee by credit card.
Why Change Registered Agents?
A company might want to change its registered agent for several reasons, such as:
- Changing From an Individual Agent to a Registered Agent Service: While individuals may act as registered agents (including a company’s own executives or employees), they’ll be publicly listed in the state’s database. Some people may consider this an intrusion into their privacy. Registered agents also must be available in their office between 8 a.m. and 5 p.m. from Monday to Friday, which could be an inconvenience. Changing to a registered agent service solves these issues.
- Expanding Business Into New States: Limited liability companies (LLCs), corporations, and other formal business structures must have a registered agent for each state in which they do business. Not all registered agents have the capability to serve as a registered agent in every state. Some businesses prefer to have the same registered agent for each state rather than several different ones.
- Customer Satisfaction: Whether it’s about price, customer service, or the quality of the work, some changes happen simply because a business isn’t happy with its current registered agent.
Frequently Asked Questions
Who can be a registered agent in New Mexico?
A company or person over the age of 18 located in New Mexico can serve as a registered agent, including individuals in your company. The only exception to this is that a company can't serve as a registered agent for itself.
Can anyone be a registered agent?
Anyone can be a registered agent as long as they: are at least 18 years old, have a physical address in New Mexico, and are always available during regular business hours at that address.
Can I be my own registered agent in New Mexico?
Yes, you can be your own registered agent in New Mexico if you:
- Are 18 years or older
- Have a physical address in New Mexico
- Are always available during normal business hours to receive service of process in person
Note that this applies to you as an individual serving as the registered agent for the company. A company can’t serve as its own registered agent.
What does a registered agent do?
Registered agents help keep your business compliant by maintaining up-to-date paperwork. They also are in charge of accepting official correspondence on behalf of your business, such as paperwork from the state and federal government, tax forms, and legal notices.
How much does it cost to change my registered agent in New Mexico?
It costs $25 for corporations, $20 for LLCs, and $10 for nonprofits to change their New Mexico registered agent when filing a Change of Registered Agent form with the Secretary of State.
How much does an New Mexico registered agent cost?
A professional registered agent service typically costs between $50 and $300 per year. If you choose to serve as your own registered agent, there is no cost.
What form do you file to change a registered agent in New Mexico?
You can change a New Mexico registered agent by filing a Change of Registered Agent form with the Secretary of State.
Should I be my own registered agent?
You may serve as your own registered agent if you meet certain conditions. Some small business owners choose to do this instead of hiring a third party or appointing someone else.
But, because this position comes with extra responsibilities and potential inconveniences, many business owners decide it’s better for them to appoint another person or a professional service to act as their registered agent. You should weigh the pros and cons of each option and decide which is best for you and your business.