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Banking & Fintech 📍 State: WY · 👁️ 259 views

Can a US LLC open a Mercury or Relay bank account using a virtual address?

I am planning to use a virtual street address in Wyoming for my LLC. Will Mercury Bank or Relay Financial accept this address for KYC onboarding, or do they reject virtual addre...

Faiza J. Saeed
Faiza J. Saeed VERIFIED COUNSEL
Cravath, Swaine & Moore LLP · US fintech banking partners (like Choice Financial Group for Mercury or Thread Bank for Rela...
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Corporate Governance 📍 State: WY · 👁️ 515 views

What is the deadline for existing LLCs to file their FinCEN BOI Report under the Corporate Transparency Act?

My company was incorporated back in 2022. By what exact date do we need to submit our Beneficial Ownership Information report, and what IDs are accepted?

David W. Wilson
David W. Wilson VERIFIED COUNSEL
Wilson & Montgomery Business Counsel PLLC · For all reporting companies created or registered before January 1, 2024, the deadline to fi...
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Corporate Law 📍 State: DE · 👁️ 862 views

Do I need a custom Operating Agreement for a Single-Member LLC in Delaware?

I am the only owner of my Delaware LLC. Is it strictly necessary to have an Operating Agreement since Delaware does not require it to be filed with the Secretary of State?

Kenneth R. Feinberg
Kenneth R. Feinberg VERIFIED COUNSEL
Feinberg Rozen, LLP · Even though Delaware Division of Corporations does not require you to file your Operating Ag...
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Tax Compliance 📍 State: DE · 👁️ 542 views

What is the consequence of failing to file IRS Form 5472 for a foreign-owned US LLC?

I formed a single-member Delaware LLC in 2024 as a non-US resident. I missed the filing deadline for Form 5472 and Form 1120. How severe are the penalties and how can I seek rea...

Brian M. Resnick
Brian M. Resnick VERIFIED COUNSEL
Davis Polk & Wardwell LLP · The baseline penalty under IRC Section 6038A for failing to timely file Form 5472 with Form ...
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LLC Registration 📍 State: WY · 👁️ 173 views

Can a non-US citizen own a single-member Wyoming LLC without visiting the USA?

I reside in Germany and wish to form a US software consulting business. Can I be the 100% owner of a Wyoming LLC without a US Social Security Number, and can this be done 100% r...

David Boies
David Boies VERIFIED COUNSEL
Boies Schiller Flexner LLP · Yes, absolutely. Under Wyoming statutory law (Wyo. Stat. § 17-29-101 et seq.), there are zer...
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