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How often do banks check to see who the business owner is

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Brianthedog

New member
I own a delaware LLC. I have a business bank account for that LLC with a US bank.

I'd like to change the ownership of my LLC to an offshore corporation, instead of my personal name - but I'd prefer not to tell the bank (it took ages to get a bank setup, non-us owner, and i don't want the hassle).

So how often do banks check to see who the current owner of a delaware llc is? When we change ownership with the state of delaware i'm assuming they don't automatically tell the bank; at the end of the day, surely they don't know who the bank is that we deal with?

Will they never know? Do they tend to check once a year? How's it work folks?
 

Sir Gelato

New member
Depending on tha bank, the regulation of the country, the type of client or risk that you represent as a customer. Also, the information that the bank can get through external resources.
 

CaptK

Nominee Company Bank Account Real Estate Passport
Mentor Group Gold
Its in your terms and conditions that you must inform them of any changes. They can hold your funds indefinitely if they find out.
 

Martin Everson

Offshore Retiree
Mentor Group Gold
Elite Member
I'd like to change the ownership of my LLC to an offshore corporation, instead of my personal name - but I'd prefer not to tell the bank (it took ages to get a bank setup, non-us owner, and i don't want the hassle).
Errr.......don't do it. A law came into US on May 11, 2018 regarding certification of beneficial owners of legal entity accounts. If ownership changes in company you need to inform bank immediately. See answer to question 13 in below document.



Will they never know? Do they tend to check once a year? How's it work folks?
See answer to question 14 from above document. It's basically at the discretion of the bank whether they do periodic checks.
 

mange38

Entrepreneur
Errr.......don't do it. A law came into US on May 11, 2018 regarding certification of beneficial owners of legal entity accounts. If ownership changes in company you need to inform bank immediately. See answer to question 13 in below document.
Isn't this about beneficial ownership though? If he transfers the LLC to an IBC he would still be the beneficial owner.
 
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