To prevent abuse from anonymous company formations, the U.S. will introduce a transparency registry starting in 2024. In the future, all information about the beneficial owners of a US LLC will be stored here. However, this list is kept only for internal purposes of the US authorities. It is therefore still not a public register. Anyone who has formed an anonymous LLC in New Mexico, Wyoming or Delaware through third parties such as a manager can now still be investigated by U.S. authorities. For the Corporate Transparency Act, as of Jan. 1, 2024, a report with the relevant information must be filed within 30 days for new companies. Thus, very little changes for LLC company formation in the USA. However, a passport copy and address must be submitted to us in the future in order to also apply for a tax number for the LLC. In addition to the authorities, banks will also have access to this database in the future. This may even prove beneficial for bank account openings. Already established companies have until the end of 2024 to report the data.
The necessary information then includes: name / address / passport number / passport copy. However, this information is beneficial for the EIN tax number application anyway.
According to the Corporate Transparency Act, the LLC must have an individual company address. A virtual office provider will then no longer be sufficient here. All our customers are provided with a corresponding address here, which complies with the requirements of the Corporate Transparency Act.
However, the information for this Corporate Transparency Act must be provided by the beneficiary or beneficiaries of the company itself. We will provide appropriate assistance for this. At present, it can be assumed that this is a one-time announcement. Thus, the process should take only a few minutes.
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