Important Notice: New policy sharing for US companies
Recently received the latest policy of US companies, the US Corporate Transparency Act (CTA) has come into effect on January 1, 2024. After the law comes into effect, companies registered in the US are required to apply for EIN tax ID, submit BOI reports to the US Financial Crimes Administration. That is, declare the personal informations for all shareholders with a shareholding ratio of more than 25% and the persons have significant decision-making influence on the company, otherwise there will be a high penalty risk.
I. Declaration Time Requirements:
Companies registered before 2024, need to declare before January 1, 2025;
Companies registered between January 1, 2024 and January 1, 2025 shall complete the declaration within 90 days after registration;
Companies registered after 2025 shall complete the declaration within 30 days after registration.
Company registration certificate, federal EIN tax ID, full set of registration documents, equity structure chart;
Personal informations of all shareholders with a shareholding ratio of more than 25%, including scanning copy of ID card, scanning copy of passport, personal address (can be the address on ID card), and personal SSN tax ID (if don't have, can not be provided).
III. Declaration Time:
With complete materials, about 7-10 working days. There will be a report receipt file after submission.