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BOI - What kind of address proof?

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atlantic

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Feb 20, 2024
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#1
Beneficial Ownership Information - I'm wondering what kind of address proof FinCEN will ask for and which languages they would accept. As a perpetual traveller it's difficult to get an address proof like utility bill, issued on its own name. Has anybody already got a feedback from FinCEN after filing its BOI?
 
#2
Well, use photoshop or ask your CSP to help you with a utility bill, most often it is possible. It need to be in English!
 
#5
atlantic said:
Beneficial Ownership Information - I'm wondering what kind of address proof FinCEN will ask for and which languages they would accept. As a perpetual traveller it's difficult to get an address proof like utility bill, issued on its own name. Has anybody already got a feedback from FinCEN after filing its BOI?
Click to expand...
Hello,
In my experience with filing the Beneficial Ownership Information with FinCEN in January, I noted that they didn't request any proof of address for either the business or the UBO at the initial filing stage.
So far, I haven't received any follow-up requests from them for additional information or documentation regarding address proof
 
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#9
Filling BOI does not directly involve tax information, they ask for the EIN though. The focus is primarily on identifying who owns and controls U.S. companies. However, you should note, if you're concerned by tax information exchange, the U.S. does have agreements with some countries to share financial and tax information under specific conditions, you probably heard of FATCA. A foreigner owning a U.S. LLC doesn't automatically trigger information sharing with your home country unless specific criteria are met under those agreements. Obviously, it goes without saying that if your company maintains a bank account, it's likely subject to the Automatic Exchange of Information (AEOI) under the Common Reporting Standard (CRS). This means that financial institutions may report the account details to tax authorities, who could then exchange this information with the tax authorities in your country of residence. This is separate from the Beneficial Ownership Information reporting to FinCEN and pertains more directly to tax compliance and transparency on a global scale.
 
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#10
janet25 said:
Will LLC owners who registered before 2024 need to submit a BOI?
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Yes but end of 2024 you have 9 months left

Dubsize said:
Filling BOI does not directly involve tax information, they ask for the EIN though. The focus is primarily on identifying who owns and controls U.S. companies. However, you should note, if you're concerned by tax information exchange, the U.S. does have agreements with some countries to share financial and tax information under specific conditions, you probably heard of FATCA. A foreigner owning a U.S. LLC doesn't automatically trigger information sharing with your home country unless specific criteria are met under those agreements. Obviously, it goes without saying that if your company maintains a bank account, it's likely subject to the Automatic Exchange of Information (AEOI) under the Common Reporting Standard (CRS). This means that financial institutions may report the account details to tax authorities, who could then exchange this information with the tax authorities in your country of residence. This is separate from the Beneficial Ownership Information reporting to FinCEN and pertains more directly to tax compliance and transparency on a global scale.
Click to expand...

USA is not a part of AEOI
 
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