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FinCEN: Disregarded Entities Need Not Obtain a Unique Tax ID Number Solely for Filing a Beneficial Ownership Information Report

Barry Fischer July 24, 2024

The Corporate Transparency Act requires certain entities to report information about themselves and their beneficial owners, including a taxpayer identification number. But one question was: If a single-member LLC or other disregarded entity did not already have a TIN, would it need to get one solely for making a BOIR filing?

On July 24, FinCEN clarified the type of tax identification number that should be reported by an entity that is disregarded for U.S. tax purposes. In this new article, Barry Fischer provides an overview of FinCEN’s update.

Read the full article here and see our CTA Resources page here.