Does your LLC give you privacy? Probably not any more!

[Greg Scott]

Washington wants to know all about you and your entities and create a giant database of who owns what.

If you haven't heard yet, starting Jan 1, The Corporate Transparency Act goes into effect.  All entities must now register with the Federal Government and you must provide them ownership information.  This information is supposed to be private and held by the Financial Crimes Enforcement Network department, but the information can be shared with other government entities, so we know it won't be long before all that information starts leaking out and someone sets up a separate database they sell to ambulance chasers.

The official site is here https://www.fincen.gov/boi but is not very helpful.

The Real Estate Guys did a podcast on in that is better https://realestateguysradio.com/podcast-understanding-the-co...