The Corporate Transparency Act of 2019, or the end of Anonymous LLCs and Anonymous Corporations in the USA
On its way to the US Senate, this bill (H.R. 2513) will make mandatory the disclosure of beneficial owner(s) of any LLC or Corporation: anybody with more than 25% ownership. Annual reports will be made to FinCEN. The disclosed information will not be publicly available. The data to be disclosed will be:
- the full legal name ;
- the date of birth ;
- the current residential address ;
- and the current valid passport number (or valid US state driver license number).
Exempted entities are: insurances, banks, any SEC regulated entities, churches, lub 501(c) non-profit entities.
View the full legal text for reference:
https://www.congress.gov/bill/116th-congress/house-bill/2513/text