NEWLY EXEMPT ENTITIES

..... KEEP READING BELOW FOR MORE INFO .....

What should a reporting company do if it

becomes exempt after already filing a report?

If a reporting company filed a beneficial ownership information report but then becomes exempt from filing the report, the company should file an updated report indicating that it is no longer a reporting company. An updated BOI report for a newly exempt entity will only require that: (1) the entity identify itself; and (2) check a box noting its newly exempt status.

DISCLAIMER

Stanley Bronstein is a lawyer and a CPA, but he is not your lawyer or CPA unless and until he is hired by you as your lawyer and/or CPA. The information and opinions contained herein are just that, information and opinions intended to help you learn about and understand your filing requirements under the new Corporate Transparency Act. The information contained herein should not be considered to be the giving of legal advice or accounting advice, unless and until you hire Stanley Bronstein as your lawyer and/or CPA.