Corporate Transparency Act: How to File Beneficial Ownership Information Report (Audio Enhanced)
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- Опубліковано 24 січ 2024
- Note--The original version of this video didn't have great audio, so we upgraded the audio and have uploaded it again. If you saw the original video posted on January 1, 2024, the content in this is the same.
On January 1, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) began accepting beneficial ownership information reports as part of the Corporate Transparency Act.
FinCEN's reporting portal worked as planned, and I'll walk you through how to report using both the online system and the PDF upload system. There is also an API for third party providers with their own systems, but I don't have one of those right now.
#corporatetransparencyact
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Strohmeyer Law is a law firm based in Houston, Texas, specializing in tax law, estate planning, and probate law.
Nothing in this video is specific legal advice for you. Watching or commenting on this video doesn't create an attorney-client relationship.
For more information, visit: www.strohmeyerlaw.com
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Thank you for being the best at explaining this! As a Recording Company, I want to process the simple applications and I'd like to refer the other companies to you.
You're very welcome!
Note--The original version of this video didn't have great audio, so we upgraded the audio and have uploaded it again. If you saw the original video posted on January 1, 2024, the content in this is the same.
Thank you for posting your videos. Why would an entity you are filing for need it's own FinCEN id? Examples? Would it just be used for correcting or updating information later for that entity?
No, getting a FinCEN ID is optional for entities and could be used when the Beneficial Owners are identical for both entities.
Thank you. I filed my non resident llc on 12 decemeber 2023. Recived my ein on 29 january. Do i have to file it aswell. And my llc addreas is my residential addreas in Canada. And i only need to file the initial report or any other aswell
Unless an exemption applies, which you have not identified one in this comment, then you will need to file for the entity. Please talk with your own advisors about your specific situation to make sure you’re reporting accurately.
What do you do when the LLC was formed in one state with EIN and the same LLC is registered as a foreign entity in another state?
BOI form does not specify
There’s not a clear answer in any of the guidance, but you should not need to file a second time. The registration should be linked with the EIN even if registered in multiple states. In other words, registration in another state (but not the first registration in the USA) should not require another BOI Report. Make sure you’ve talked to your own advisor about your specific situation.
@strohmeyerlawpllc Thank You so much
may I ask,after this we are done for the Corporate Transparency Act?
No, it’s not a single filing, nor is it an annual filing. Updated reports will be need to be filed with FinCEN to report any changes in the previously reported information.