LLC Owners MUST Watch This! #shorts #LLC #BusinessAdvice

18 Dec 2023 · 1 min

Watch on YouTube

0:50

In this short video, the speaker urgently advises LLC owners to consult a lawyer and ensure their company is registered with FinCEN, the U.S. Treasury’s Financial Crimes Enforcement Network. The registration requires listing all beneficial owners of the LLC. The purpose of this requirement is to help the government identify and prevent illicit activities that might be hidden behind the LLC structure, as only managing members typically sign official documents. Failure to comply could expose owners to legal risk.

Chapters

If you have an LLC, if you have an LLC, you need to talk to your lawyer or talk to some legal professional because they want anybody who has an LLC to go to the FinCEN, F-I-N-C-E-N, which is the financial arm of the government that checks stuff out, and they want you to register your LLC there. Then they want you to you have to list all the beneficial owners of the LLC. Okay. So they're trying to catch people who are doing shady stuff, you know, because they don't— when you have an LLC, the only person who really has to sign anything is whoever the managing members are.