CORPORATE TRANSPARENCY ACT must register with govt. if LLC or Corporation

[caldreamer]

Just wanted to let you know new government regulations to combat money laundering.   LLC and Corporations must register for new CORPORATE TRANSPARENCY ACT by January 1, 2024.   Check links below to see if you company meets the criteria.   

https://fincen.gov/sites/default/files/shared/BOI_Small_Compliance_Guide.v1.1-FINAL.pdf

https://www.fincen.gov/news/news-releases/us-beneficial-ownership-information-registry-now-accepting...

[heckofagame]

I'm on it.

[mindeyefirestorm.2]

Lol🤣 with all money laudering in goverments  throughout the world.

Oh please.. 

[12345jamesstamps]

That's where the 1099K is coming into play.

This was suppose to be done last year and the year before.

And Congress is not doing a whole lot these days....other than getting a paycheck. LOL

[bluegrasstreasures1]

Ebay sellers need to dothis if not llc?

[caldreamer]

No, only if you are registered LLC or corporation.

[valueaddedresource]

Here's the important part for Sole Proprietors:

https://www.fincen.gov/boi-faqs

C. 6. Is a sole proprietorship a reporting company?

No, unless a sole proprietorship was created (or, if a foreign sole proprietorship, registered to do business) in the United States by filing a document with a secretary of state or similar office. An entity is a reporting company only if it was created (or, if a foreign company, registered to do business) in the United States by filing such a document.

Filing a document with a government agency to obtain (1) an IRS employer identification number, (2) a fictitious business name, or (3) a professional or occupational license does not create a new entity, and therefore does not make a sole proprietorship filing such a document a reporting company.

[pcobra93]

Uncle Sam can be the ONLY money launderer....