What is a “company applicant” under the FinCEN beneficial ownership reporting rules?

Companies formed prior to January 1, 2024, do not have company applicants. For companies formed on or after January 1, 2024, the company will have at least one and at most two company applicants:

• The individual who directly files the document that creates the entity, or in the case of a foreign reporting company, the document that first registers the entity to do business in the United States must be listed as a company applicant.
• In addition, if different from the individual who directly files the document, the individual primarily responsible for directing or controlling the filing of the relevant document by another must also be listed as a company applicant.

A company's lawyer or accountant can be a company applicant if they directly file the document that creates or registers the reporting company or is primarily responsible for directing or controlling the filing.

Related FAQs

• What is the Corporate Transparency Act (CTA)?
• What is the Corporate Transparency Act (CTA) Beneficial Ownership Information (BOI) reporting rule?
• What is FinCEN?
• What is the FinCEN beneficial ownership reporting rule?
• If my company must make a FinCEN beneficial ownership report, when is it due?
• Are some companies exempt from the FinCEN beneficial ownership reporting rule?
• How does the FinCEN beneficial ownership reporting rule “large operating company” exemption work?
• Do wholly owned subsidiaries have to file the beneficial ownership report to FinCEN?
• What is a “FinCEN identifier?”
• If required, how can I file a FinCEN beneficial ownership report for my company?
• What information must be included in a FinCEN beneficial ownership report for the reporting company?
• What information must be included in a FinCEN beneficial ownership report about each beneficial owner of the reporting company?
• What information must be included in a FinCEN beneficial ownership report about its company applicants?
• Do I have to update a FinCEN beneficial ownership report?  If so, when?

Related Resources

• Orrick’s Corporate Transparency Act (CTA) Resource Center
• Orrick’s FinCEN Beneficial Ownership Reporting Tool
• FinCEN Beneficial Ownership Information (BOI) Website
• FinCEN Beneficial Ownership Information Reporting FAQs
• FinCEN Small Entity Compliance Guide