Starting 1st January 2024: all US registered entities have to declare and identify their Beneficial Ownership to the US Financial Crimes Enforcement Network (FinCEN的). What to declare? Any US entity shall declare and identify all Beneficial Owners over 25% (name, residential address, and passport scan should be given). Who needs to declare? Any US entity…

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If you use your US LLC as a shareholder of another non-US company, and this non-US company has a bank account: you have to file a FBAR report every year if that shareholding is equal or more than 50%. The penalty for not filing is US$10,000. You might want to change your structure as soon…

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