Has the most rules to follow, best for businesses ready to handle complicated setups.
No limit on owners and anyone from any country can invest.
The company pays taxes, and owners might pay taxes again on dividends, but many business costs can reduce taxes.
Strongly protects owners’ personal belongings from business debts or problems.
Needs lots of paperwork, meetings, and rules, good for bigger companies.
Can raise a lot of funds by selling shares to the public or private investors.
Great for large companies or those planning to sell shares publicly and raise big funds.
We provide comprehensive support for all your business needs, from formation to taxes.
For most US LLCs, the answer is now none. Under a FinCEN rule effective March 2025, all entities formed in the United States — including LLCs owned by non-US residents – are exempt from filing beneficial ownership information (BOI) with FinCEN. The federal requirement now applies only to companies formed under foreign law that register to do business in a US state. A few US states have separate transparency filings, so confirm your formation state. (Current as of June 2026; FinCEN’s rule is interim and we monitor for changes.)
FinCEN opened BOI reporting on January 1, 2024. However, under the rule effective March 2025, US-formed entities — including non-resident-owned LLCs — are now exempt from filing. (Current as of June 2026.)
No, a sole proprietorship is not considered a reporting company unless it was formed by filing a document with a secretary of state or similar office. Simply obtaining an EIN, registering a business name, or getting a license does not make it a reporting company.
A beneficial owner is anyone who directly or indirectly owns or controls at least 25% of the company’s ownership interests or has significant control over the company.