BOI reporting schedule for long-term LLCs

Subject: Important Update: BOI Reporting for Your U.S. LLC Body: Dear U.S.

Business Owner, We're sharing a critical update regarding Beneficial Ownership Information (BOI) reporting under the Corporate Transparency Act (CTA) that directly impacts U.S. Limited Liability Companies (LLCs).

The Latest Development: Exemption for Domestic U.S. LLCs Initially, the CTA introduced new reporting requirements with deadlines starting January 1, 2025, for existing companies.

However, a significant change occurred on March 26, 2025, when the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule (IFR). This IFR revised the definition of a "reporting company," effectively exempting all entities created in the United States, including those previously known as "domestic reporting companies," from the requirement to report beneficial ownership information to FinCEN.

What This Means for Your U.S. LLC: * If your LLC was formed under U.S. state law (a domestic U.S.

LLC), you are currently EXEMPT from FinCEN's BOI reporting requirements. * This exemption is reflected on FinCEN's official website and has been acknowledged by various state Secretaries of State.

Important for Foreign Entities: * Foreign companies registered to do business in the U.S. before March 26, 2025, had a deadline to file BOI reports by April 25, 2025. * Those registered on or after March 26, 2025, have 30 days after effective registration to file.

Key Takeaways & Recommendations: * While domestic U.S. LLCs are currently exempt, the regulatory landscape can evolve.

We strongly recommend monitoring FinCEN's official website for any future updates. * Always consult with legal counsel if you have specific questions about your entity's obligations or potential exemptions. * Be aware that states still have their own corporate registry requirements, which are separate from federal BOI.

Check your state's Secretary of State website for any ancillary requirements. This is a significant change that simplifies compliance for many U.S. business owners.

Stay informed to ensure your business remains compliant. Sincerely, [Your Company Name/Team]

Subject: Important Update: BOI Reporting for Your U.S. LLC Body: Dear U.S.

Business Owner, We're sharing a critical update regarding Beneficial Ownership Information (BOI) reporting under the Corporate Transparency Act (CTA) that directly impacts U.S. Limited Liability Companies (LLCs).

The Latest Development: Exemption for Domestic U.S. LLCs Initially, the CTA introduced new reporting requirements with deadlines starting January 1, 2025, for existing companies.

However, a significant change occurred on March 26, 2025, when the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule (IFR). This IFR revised the definition of a "reporting company," effectively exempting all entities created in the United States, including those previously known as "domestic reporting companies," from the requirement to report beneficial ownership information to FinCEN.

What This Means for Your U.S. LLC: * If your LLC was formed under U.S. state law (a domestic U.S.

LLC), you are currently EXEMPT from FinCEN's BOI reporting requirements. * This exemption is reflected on FinCEN's official website and has been acknowledged by various state Secretaries of State.

Important for Foreign Entities: * Foreign companies registered to do business in the U.S. before March 26, 2025, had a deadline to file BOI reports by April 25, 2025. * Those registered on or after March 26, 2025, have 30 days after effective registration to file.

Key Takeaways & Recommendations: * While domestic U.S. LLCs are currently exempt, the regulatory landscape can evolve.

We strongly recommend monitoring FinCEN's official website for any future updates. * Always consult with legal counsel if you have specific questions about your entity's obligations or potential exemptions. * Be aware that states still have their own corporate registry requirements, which are separate from federal BOI.

Check your state's Secretary of State website for any ancillary requirements. This is a significant change that simplifies compliance for many U.S. business owners.

Stay informed to ensure your business remains compliant. Sincerely, [Your Company Name/Team]