What is a CTA-compatible address for the BOI report?
- The form asks for a business current address in the US. In the case of foreign LLC owners, does this need to be a US address, or can it be a (personal/ trading) address abroad? I am getting some mixed advice, with some saying we can't use the existing registered office address (Northwest agent)? Others advising there is no passage that says we can’t use the registered agent address for the business address in the U.S., if there is besides that no other address. Only PO boxes are not acceptable (and Northwest is not a PO box). Other providers suggest buying a US LLC address in a state where it does not create Nexus – I wonder if this necessary or just an extra service sold? Alternatively, can a foreign LLC owner consistently report their personal /trading address abroad in the BOI report as in the 5472 form (do they cross-check)?
- If I put a US address as principle place of business, I am concerned whether this could make me taxable in the US; if instead I input a foreign address, I wonder if a proof of address may be required or if mail may be sent to the declared address?
- The first BOI report is due before the end of 2024 (for companies registered in 2023). But what happens if the details of the LLC owner (such as personal address) change multiple times during the year? Should we resubmit a BOI update within 30 days of any change? This would be tricky for perpetual travelers with no long term personal residence.
