Topic: fincen want to know LLC's real physical location and owner (Read 54 times)
Do I understand correctly that if an American company has a founder of an offshore company from Cyprus, and a company from Cyprus has a founder of an offshore company from Malta, and a company from Malta has a founder of a company from the Bahamas, then it is now necessary to transfer information to FinCEN about the entire chain of founders?
Good! Things are changing for better. Many of these LLCs are formed by foreigners residing in a different country. It was really hilarious that American government used to grant company registrations without actually knowing the owner. This is a huge risk and these companies can be easily used for laundering money.
I have seen multiple companies in my country claimed they have a US subsidiary registered under LLC structure without actually providing a complete address in their website. It's good to see that the US government is finally taking steps to fix this corporate loop hole.
I have seen multiple companies in my country claimed they have a US subsidiary registered under LLC structure without actually providing a complete address in their website. It's good to see that the US government is finally taking steps to fix this corporate loop hole.
if you run a business which you registered to a PO Box or virtual office or accountant to hide real information.. be warned,
the Fed has made it law from january 2024 that businesses need to file real information on the business owner
www.fincen.gov/boi
this means real names of company owner and a real residency address
the Fed has made it law from january 2024 that businesses need to file real information on the business owner
www.fincen.gov/boi
Quote
In 2021, Congress enacted the Corporate Transparency Act. This law
creates a beneficial ownership information reporting requirement as part
of the U.S. government’s efforts to make it harder for bad actors to hide or
benefit from their ill-gotten gains through shell companies or other opaque
ownership structures
Beginning on January 1, 2024, many companies in the United States
will have to report information about their beneficial owners, i.e., the
individuals who ultimately own or control the company. They will have
to report the information to the Financial Crimes Enforcement Network
(FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury.
When Do I Report?
Reports will be accepted starting on January 1, 2024.
• If your company was created or registered prior to January 1, 2024,
you will have until January 1, 2025 to report BOI.
• If your company is created or registered on or after January 1,
2024, you must report BOI within 30 days of notice of creation or
registration.
• Any updates or corrections to beneficial ownership information that
you previously filed with FinCEN must be submitted within 30 days.
FinCEN cannot accept reports before January 1, 2024
creates a beneficial ownership information reporting requirement as part
of the U.S. government’s efforts to make it harder for bad actors to hide or
benefit from their ill-gotten gains through shell companies or other opaque
ownership structures
Beginning on January 1, 2024, many companies in the United States
will have to report information about their beneficial owners, i.e., the
individuals who ultimately own or control the company. They will have
to report the information to the Financial Crimes Enforcement Network
(FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury.
When Do I Report?
Reports will be accepted starting on January 1, 2024.
• If your company was created or registered prior to January 1, 2024,
you will have until January 1, 2025 to report BOI.
• If your company is created or registered on or after January 1,
2024, you must report BOI within 30 days of notice of creation or
registration.
• Any updates or corrections to beneficial ownership information that
you previously filed with FinCEN must be submitted within 30 days.
FinCEN cannot accept reports before January 1, 2024
this means real names of company owner and a real residency address
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