Are there any entities that are exempt from the reporting requirement?
56 views | Last modified 3/13/2024 1:59:45 AM EST | Added by TaxBandits Team

Yes, 23 different categories of entities are exempt from the need to provide beneficial ownership information. These entities include publicly traded firms that meet certain criteria, many nonprofit organizations, and significant operating companies.

Exemption Number Exemption Short Title
1 Securities reporting issuer
2 Governmental authority
3 Bank
4 Credit union
5 Depository institution holding company
6 Money service business
7 Broker or dealer in securities
8 Securities exchange or clearing agency
9 Other Exchange Act registered entity
10 Investment company or investment adviser
11 Venture capital fund adviser
12 Insurance company
13 State-licensed insurance producer
14 Commodity Exchange Act registered entity
15 Accounting firm
16 Public utility
17 Financial market utility
18 Pooled investment vehicle
19 Tax-exempt entity
20 Entity assisting a tax-exempt entity
21 Large operating company
22 Subsidiary of certain exempt entities
23 Inactive entity

 

Was this helpful? Yes No

Sign Up for a
FREE TaxBandits Account!

Register Now

Returning User? Sign in

Couldn't find what you
are looking for?

Contact Us

(704) 684-4751 support@taxbandits.com