At O&G Tax and Accounting, we are committed to helping your business navigate the reporting requirements mandated by the Corporate Transparency Act (CTA), a key component of the Anti-Money Laundering Act of 2020. Our expert team is here to ensure that your foreign-owned LLC complies with these important regulations efficiently and accurately.

Who Needs to File: The CTA requires certain U.S. corporations, LLCs, and similar entities to report beneficial ownership information. This applies to both existing companies and newly formed entities, with specific deadlines based on the date of creation or registration.

Deadlines for Filing:

• Existing Companies: Entities created or registered before January 1, 2024, must file their beneficial ownership information report by January 1, 2025.
• New Companies: Entities created or registered on or after January 1, 2024, have 90 calendar days from the effective date of creation or registration to file their report.

Filing Requirements: The report requires specific details about each beneficial owner of the entity, including:

• Full Name
• Date of Birth
• Address (residential or business)
• Identification number and issuer from a valid document (U.S. driver’s license, U.S. or foreign passport, or other government-issued ID)

For the company itself, information such as the company’s name(s) and address is required. Entities formed on or after January 1, 2024, must also provide details about the individuals who formed the company.

Our Services: To streamline your compliance process, we offer comprehensive CTA filing services. Our fixed-rate package includes:

• CTA Filing Assistance: $225

  • Expert guidance through the filing requirements
  • Assistance in compiling and verifying necessary ownership and company information
  • Submission of your report to FinCEN in a timely and secure manner
  • Confirmation of successful filing and compliance