Corporate Transparency Act: How to Get a FinCEN Identifier Number
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- Опубликовано: 31 дек 2023
- The original audio on this file wasn't as good as we liked, so we've upgraded the audio and published it here: • Corporate Transparency...
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.
To streamline the process of reporting, Beneficial Owners, Company Applicants, and entities (whether or not they're Reporting Companies) can obtain an FinCEN Identifier after providing their name; date of birth; address; and the identifying number and issuer from either a non-expired U.S. driver’s license, a non-expired U.S. passport, or a non-expired identification document issued by a State (including a U.S. territory or possession), local government, or Indian tribe. If none of those documents exist, a non-expired foreign passport can be used. An image of the document must also be submitted. This process is done
Like a CAF#, BSA, or PTIN, FinCEN will issue you an identifier number that can be provided to any Reporting Company instead of providing that information to a Reporting Company.
Any individual or entity with a FinCEN identifier must update FinCEN of any change or if they become aware or have reason to know any information was inaccurate.
#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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The original audio on this file wasn't as good as we liked, so we've upgraded the audio and published it here: ruclips.net/video/OZ4BDcFFt9I/видео.html
The FinCEN ID system is up and running! If you applied for one, did you have any issues getting an FinCEN ID?
You helped me and this was super easy.
Glad I could help!
@@strohmeyerlawpllc question: what if you had a old business but it’s hadn’t be used in five years do you add that too?
@@RICKDOEZ1 There is an exemption for inactive entities, but the requirements are strict and more than most people imagine. You'll need to consult with your own advisor to see if that entity qualifies for an exemption.
Thank you so much for guiding.
Would you please guide further if a Single Member LLC is created by a non-US resident, and he is both the applicant and Beneficial Owner of the company.
Question: Does he need to mention his own country residential address and also the virtual address of the business?
OR only business address is enough to get the "Fincen Identifier Number"
please guide.
Thank you
The business will need to report its physical address.
The individual Beneficial Owners will report their residential address
Company Applicants (if required to be reported) will their business address or home address if they are not in the business of forming entities. Consult with your own advisor about your specific situation.
@@strohmeyerlawpllc Thank you so much Sir.
I am Grateful for your kind gesture and help.
Stay Blessed and happy.
🙏😊
Thank you,
You are welcome!
Does everyone filing a report need an ID?
No, getting a FinCEN ID is optional.