All Reporting Companies, including corporations, LLCs, and similar entities created under state or tribal law, must file online reports with FinCEN containing specific information about the companies and their Beneficial Owners. Beneficial Owners are individuals who either directly or indirectly own or control at least 25% of the ownership interests or exercise Substantial Control over the entity. Substantial Control includes being a Senior Officer, having the authority to appoint or remove key personnel, being an important decision-maker, or having any other form of substantial control, such as serving as a Trustee. The online forms for filing these reports are not currently available.

Initiate the compliance process with the Corporate Transparency Act by creating a list of privately held entities you’re involved with. Include all necessary details for each entity. Keep in mind that this summary may not cover every scenario. If you’re unsure about how the law affects your trusts, partnerships, LLCs, or other entities, contact us for assistance. By entrusting us with this task, we’ll handle the complexities to ensure a seamless and accurate compliance process. This allows you to focus on your business while we navigate the intricacies of the Corporate Transparency Act, providing you with peace of mind and preventing any potential filing errors.