THE SSP FIRM BLOG

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• “Large operating companies” employing more than 20 full time employees in the U.S. that have: (a) previously filed federal tax returns; (b) more than $5 million in gross receipts or sales; and (c) an operating presence at a physical office in the U.S.;
• Certain inactive companies;
• Companies subject to existing regulatory reporting requirements, i.e., banks, investment companies, brokers or dealers in securities, certain tax-exempt entities, public companies;
• A complete list of exempt entity types is available on the FinCEN website: https://fincen.gov/boi-faqs

• The business’s legal name and any trade names or “doing business as” (DBA) names;
• The current street address of its principal place of business in the U.S.;
• Its jurisdiction of formation or registration;
• Its taxpayer identification number;
• The name, date of birth, and address of all beneficial owners of the company;
• For those companies formed after January 1, 2024, the name, date of birth, and address of the individual who directly filed the document to create the company and the individual who is primarily responsible for directing or controlling the filing of the creation documents (Company Applicant);
• A unique identifying number of each Beneficial Owner and Company Applicant from an acceptable identification document, such as a driver’s license issued by a U.S. state or passport.

• Directly or indirectly exercise “substantial control” over a company, or
• Directly or indirectly owns or controls 25% or more of a company’s ownership interests.