Asset Protection and the Corporate Veil

[@PedroOjeda]

Makn issue woth that Finra thing is you have to keep it updated. For example if ine of the owners changes address you have 30 dats to update Finra. If you have many LLC, this is cumbersome.
Best thing is to make a Finra ID to auto update all LLC

[@CunninghamLegal]

Yes, you're talking about creating FinCen ID for the Corporate Transparency Act reporting requirements. If you own or partly own an LLC, a partnership, or a corporation, this law is something you need to understand-and you may need to take action. The Corporate Transparency Act (CTA) requires specific information about the ownership of most small businesses to be reported to the United States Financial Crimes Enforcement Network (FinCEN), which can be reported here: boiefiling.fincen.gov/.
*To your point, @PedroOjeda, if your business ownership changes, you must update this information within 30 days.
If you have an existing company, you must file by January 1, 2025. Complying with the CTA might seem like a daunting task, especially for smaller businesses. We’re here to help make the process as easy as possible. Please contact our office if you would like assistance with the filing process.
We have further materials on this here: www.cunninghamlegal.com/corporate-transparency-act-what-you-need-to-do-now/