New York LLC Transparency Act: 2026 Beneficial Owner Disclosure Guide 

This guide outlines who must file, the critical deadlines for 2026, and how to remain compliant with the new Beneficial Owner Disclosure (BOD) requirements.

Who is Required to File the Beneficial Owner Disclosure?

The new reporting requirements specifically target transparency for entities formed outside of the United States.

Foreign LLCs in New York

The law applies to Limited Liability Companies (LLCs) that:

1. Were formed under the laws of a foreign country.

2. Are authorized to do business in New York State.

Domestic LLCs and Exemptions

Currently, domestic limited liability companies (formed within the U.S.) are not subject to this specific New York State reporting requirement. Furthermore, certain entities may be deemed "Exempt Entities." Even if your foreign LLC is exempt, you are still required to file an initial and annual attestation of exemption to maintain your status.

Note: If you are unsure of your entity's status, you can review our Corporate Compliance Services page or contact our office for a referral to a legal specialist. 

2026 Filing Deadlines and Requirements

The Department of State has established a strict timeline for both new and existing foreign LLCs.

Initial Filing Deadlines

• Authorized on or after January 1, 2026: You must file your initial beneficial owner disclosure or attestation of exemption within 30 days of receiving authorization to do business in NY.

• Authorized prior to January 1, 2026: You have a transition period but must complete your filing by December 31, 2026.

Annual Disclosure Obligations

Beyond the initial filing, the law mandates an annual beneficial ownership disclosure statement. This report ensures that the identifying information for the entity’s beneficial owners remains current in the state’s records.

What Information is Reported?

A Beneficial Owner Disclosure (BOD) statement identifies the individuals who ultimately own or control the company. The Department of State requires:

• Full Legal Name of each beneficial owner.

• Identifying Information (such as date of birth and residential address).

• Attestations for exempt entities confirming their basis for exemption.

How to File with the NY Department of State

The Department of State has provided a centralized hub for these new requirements. You can find the necessary forms, instructions, and a list of Frequently Asked Questions (FAQs) directly on their portal.

Important Links for Compliance:

• Official NY DOS Website: Division of Corporations, State Records & UCC

• Our Internal Resource: NY Business Filing Guide

• Related Article: Understanding LLC Maintenance in New York

Stay Updated on New York Business Law

As your partner in business growth, CEO Jack Cola monitors these legislative shifts closely. We will provide further updates if there are any changes to the BOD filing requirements or if the Department of State issues new guidance.