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Corporate Transparency Act

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This business is:i
Is the General Partnership registered with a Secretary of State, in any state?
This business is a

For this Exemption, the entity must first NOT QUALIFY for any of the below Exemptions

Exemption for Subsidiary of Certain Exempt Entities

An entity qualifies for this exemption if all six of the following criteria apply:
Is the entity’s ownership interest controlled or wholly owned, directly or indirectly, by any of the following types of exempt entities:

Exemption for Pooled Investment Vehicle

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity either: (1) An investment company, as defined in section 3(a) of the Investment Company Act of 1940 (15 U.S.C. 80a-3(a)); or (2) A company that would be an investment company under that section but for the exclusion provided from that definition by paragraph (1) or (7) of section 3(c) of that Act (15 U.S.C. 80a-3(c)); and is identified by its legal name by the applicable investment adviser in its Form ADV, (or successor form) filed with the Securities and Exchange Commission or will be so identified in the next annual updating amendment to Form ADV required to be filed by the applicable investment adviser pursuant to rule 204-1 under the Investment Advisers Act of 1940 (17 CFR 275.204-1)?
Is the entity is operated or advised by any of the below types of exempt entities:
Check all that apply

Logic for Exemption for Pooled Investment Vehicle

Exemption for Securities Reporting Issuer

An entity qualifies for this exemption if either of the following two criteria apply:
Is the entity an issuer of a class of securities registered under section 12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l)?
Is the entity required to file supplementary and periodic information under section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 70o(d))?

Exemption for Governmental Authority

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity established under the laws of the United States, an Indian tribe, a State, or a political subdivision of a State, or under an interstate compact between two or more States?
Does the entity exercise governmental authority on behalf of the United States or any such Indian tribe, State, or political subdivision?

Exemption for Banks

An entity qualifies for this exemption if any of the following three criteria apply:
Is the entity a “bank” as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)?
Is the entity a “bank” as defined in section 2(a) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a))?
Is the entity a “bank” as defined in section 202(a) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-2(a))?

Exemption for Credit Unions

An entity qualifies for this exemption if either of the following two criteria apply:
Is the entity a “Federal credit union” as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752)?
Is the entity a “State credit union” as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752)?

Exemption for Depository Institution Holding Company

An entity qualifies for this exemption if either of the following two criteria apply:
Is the entity a “bank holding company” as defined in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841)?
Is the entity a “savings and loan holding company” as defined in section 10(a) of the Home Owners’ Loan Act (12 U.S.C. 1467a(a))?

Exemption for Money Transmitter Business

An entity qualifies for this exemption if either of the following two criteria apply:
Is the entity a money transmitting business registered with FinCEN under 31 U.S.C. 5330?
Is the entity a money services business registered with FinCEN under 31 CFR 1022.380?

Exemption for Broker or Dealer in Securities

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity a “broker” or “dealer,” as those terms are defined in section 3 of the Securities Exchange Act of 1934 (15 U.S.C. 78c)?
Is the entity a registered under section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o)?

Exemption for Securities Exchange or Clearing Agency

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity an “exchange” or “clearing agency,” as those terms are defined in section 3 of the Securities Exchange Act of 1934 (15 U.S.C. 78c)?
Is the entity a registered under sections 6 or 17A of the Securities Exchange Act of 1934 (15 U.S.C. 78f, 78q-1)?

Exemption for Investment Company or Investment Adviser

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity an “investment company” or “investment adviser” defined as either: (1) An investment company in section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a-3); or (2) An investment adviser in section 202 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-2)?

Exemption for Venture Capital Fund Adviser

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity registered with the Securities and Exchange Commission under either of these authorities: (1) The Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.); or (2) The Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.)?
Is the entity an investment adviser that is described in section 203(l) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-3(l))?

Exemption for Insurance Company

An entity qualifies for this exemption if the following criterion applies:
Has the entity filed Item 10, Schedule A, and Schedule B of Part 1A of Form ADV, or any successor thereto, with the Securities and Exchange Commission?
Is the entity an “insurance company” as defined in section 2 of the Investment Company Act of 1940 (15 U.S.C. 80a-2)?

Exemption for State-Licensed Insurance Producer

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity an insurance producer that is authorized by a State and subject to supervision by the insurance commissioner or a similar official or agency of a State?

Exemption for Commodity Exchange Act Registered Entity

An entity qualifies for this exemption if either of the following two criteria apply:
Does the entity have an operating presence at a physical office within the United States. The term “operating presence at a physical office within the United States” means that an entity regularly conducts its business at a physical location in the United States that the entity owns or leases and that is physically distinct from the place of business of any other unaffiliated entity?
Is the entity a “registered entity” as defined in section 1a of the Commodity Exchange Act (7 U.S.C. 1a)?

Exemption for Public Accounting Firm

An entity qualifies for this exemption if the following criterion applies:
The entity is one of these entities registered with the Commodity Futures Trading Commission under the Commodity Exchange Act:
Is the entity a public accounting firm registered in accordance with section 102 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7212)?

Exemption for Public Utility

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity a “regulated public utility” as defined in 26 U.S.C. 7701(a)(33)(A)?
Does the entity provide telecommunications services, electrical power, natural gas, or water and sewer services within the United States?

Exemption for Financial Market Utility

An entity qualifies for this exemption if the following criterion applies:
Is the entity a financial market utility designated by the Financial Stability Oversight Council under section 804 of the Payment, Clearing, and Settlement Supervision Act of 2010 (12 U.S.C. 5463)?

Exemption for Tax-Exempt Entity

An entity qualifies for this exemption if any of the following four criteria apply:
Is the entity an organization that is described in section 501(c) of the Internal Revenue Code (Code) (determined without regard to section 508(a) of the Code) and exempt from tax under section 501(a) of the Code?
Is the entity an organization that is described in section 501(c) of the Code, and was exempt from tax under section 501(a) of the Code, but lost its tax-exempt status less than 180 days ago?
Is the entity a political organization, as defined in section 527(e)(1) of the Code, that is exempt from tax under section 527(a) of the Code?
Is the entity a trust described in paragraph (1) or (2) of section 4947(a) of the Code?

Exemption for Other Exchange Act Registered Entity

An entity qualifies for this exemption if both of the following criteria apply:
Is the entity registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.)?
The entity operates exclusively to provide financial assistance to, or hold governance rights over, any tax-exempt entity described by one or more of the criteria below (check all that apply).

Exemption for Entity Assisting a Tax-Exempt Entity

An entity qualifies for this exemption if all four of the following criteria apply:
Is the entity a United States person as defined in section 7701(a)(30) of the Internal Revenue Code of 1986?
Is the entity beneficially owned or controlled exclusively by one or more United States persons that are United States citizens or lawfully admitted for permanent residence. “Lawfully admitted for permanent residence” is defined in section 101(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a))?
Does the entity derive at least a majority of its funding or revenue from one or more United States persons that are United States citizens or lawfully admitted for permanent residence?
Does the entity employ more than 20 full time employees, when applying the meaning of full-time employee provided in 26 CFR 54.4980H-1(a) and 54.4980H-3. In general, “full-time employee” means, with respect to a calendar month, an employee who is employed an average of at least 30 hours of service per week with an employer?

Exemption for Large Operating Company

An entity qualifies for this exemption if all six of the following criteria apply:
Are more than 20 full-time employees of the entity employed in the “United States,” as that term is defined in 31 CFR 1010.100(hhh) and 54.4980H-3?
In general, “full-time employee” means, with respect to a calendar month, an employee who is employed an average of at least 30 hours of service per week with an employer.
Is the entity an operating presence at a physical office within the United States. “Operating presence at a physical office within the United States” means that an entity regularly conducts its business at a physical location in the United States that the entity owns or leases and that is physically distinct from the place of business of any other unaffiliated entity?
Has the entity filed a Federal income tax or information return in the United States for the previous year demonstrating more than $5,000,000 in gross receipts or sales. If the entity is part of an affiliated group of corporations within the meaning of 26 U.S.C. 1504, refer to the consolidated return for such group?
Did the entity report this greater-than-$5,000,000 amount as gross receipts or sales (net of returns and allowances) on the entity’s IRS Form 1120, consolidated IRS Form 1120, IRS Form 1120-S, IRS Form 1065, or other applicable IRS form?
When gross receipts or sales from sources outside the United States, as determined under Federal income tax principle, are excluded from the entity’s amount of gross receipts or sales, does the amount remain greater than $5,000,000?

Exemption for Inactive Entity

An entity qualifies for this exemption if all six of the following criteria apply:
Was the entity in existence on or before January 1, 2020?
Is the entity engaged in active business?
Is the entity owned by a foreign person, whether directly or indirectly, wholly or partially. “Foreign person” means a person who is not a United States person. A United States person is defined in section 7701(a)(30) of the Internal Revenue Code of 1986 as a citizen or resident of the United States, domestic partnership and corporation, and other estates and trusts?
Has the entity experienced any change in ownership in the preceding twelve-month period?
Has the entity sent or received any funds in an amount greater than $1,000, either directly or through any financial account in which the entity or any affiliate of the entity had an interest, in the preceding twelve-month period?
Does the entity otherwise hold any kind or type of assets, whether in the United States or abroad, including any ownership interest in any corporation, limited liability company, or other similar entity?

ENTITY LIKELY NOT REQUIRED TO FILE A BENFICIAL OWNERHSIP INFORMATION (BOI) REPORT UNDER THE CORPORATE TRANSPARENCY ACT.

FOR LEGAL ADVICE, CONSULT AN ATTORNEY.

Your business does not meet the exemption, therefore you will likely need to file a Beneficial Ownership Information (BOI) Report under the Corporate Transparency Act (CTA).

Continue the RFP below.

Consult an attorney regarding this service and/or the business's eligibility?

Reporting companies created or registered on or after January 1, 2024, and before January 1, 2025, have 90 calendar days after receiving actual or public notice that their company’s creation or registration is effective to file their initial BOI reports. Specifically, this 90-calendar day deadline runs from the time the company receives actual notice that its creation or registration is effective, or after a secretary of state or similar office first provides public notice of its creation or registration, whichever is earlier.

Reporting companies created or registered on or after January 1, 2025, will have 30 calendar days from actual or public notice that the company’s creation or registration is effective to file their initial BOI reports.

Company Headquarters Location

Is your company currently in litigation? e.g. Are you being sued, suing, or been charged criminally?i

Legal Service Conflict Check

Providers of legal services generally should not provide services where it would conflict with their work with an existing client. In an effort to prevent this conflict, answer the following questions.

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Will there be other third-parties involved in the delivery of this service? i

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Additional Notes

Price is important, but its not the only consideration. You may have additional questions for prospective providers of this service that will help you identify right provider that gives your business the right combination of price, quality, and fit.

Questions For The Provider

Do You Have Questions For Prospective Providers?
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