Who Is a Company Applicant of a Reporting Company?
Per FinCEN Q&A #11 - There can be up to two individuals who qualify as company applicants:
The individual who directly files the document that creates, or first registers, the reporting company; andThe individual that is primarily responsible for directing or controlling the filing of the relevant document.
No reporting company will have more than two company applicants. If only one person was involved in filing the relevant document, then only that person should be reported as a company applicant.
When Must a Company Applicant Be Reported:
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Only reporting companies formed or registered on or afterJanuary 1, 2024, will have to report their company applicants.
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Companies created or registered before January 1, 2024, do not have to report their company applicants.
The following examples illustrate how to identify company applicants in common company creation or registration scenarios.
Example 1: Individual A is creating a new company. Individual A prepares the necessary documents to create the company and files them with the relevant state or Tribal office, either in person or using a self-service online portal. No one else is involved in preparing, directing, or making the filing.
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Individual A is a company applicant because Individual A directly filed the document that created the company. Because Individual A is the only person involved in the filing, Individual A is the only company applicant. State or Tribal employees who receive and process the company creation or formation documents should not be reported as company applicants.
Individuals A and B are both company applicants—Individual B directly filed the documents, and Individual A was primarily responsible for directing or controlling the filing. Individual B could, for example, be Individual A’s spouse, business partner, attorney, or accountant; in all cases, Individuals A and B are both company applicants in this scenario.