Home › LLC Transparency Act
In force since January 2026
The New York LLC Transparency Act
Most of what you will read about this law does not apply to you. The reporting duty is narrower than the coverage suggests, and the exemption is the headline.
Scope
Who has to file?
Only non-US LLCs authorized to do business in New York. LLCs formed in New York, in another state, in DC, or in a US territory are exempt from reporting beneficial ownership.
If your LLC was formed anywhere in the United States, you are out of scope. That covers the overwhelming majority of companies reading this page.
If your LLC was formed outside the United States and holds a New York Certificate of Authority, you are in scope and you have a deadline.
The law sits at Sections 1106 to 1108 of the Limited Liability Company Law. It took effect on January 1, 2026.
Watch for scare marketing on this. Several formation companies sell a Transparency Act compliance product to domestic LLCs that have nothing to file.
Deadlines
When the filing is due
LLCs authorized before January 1, 2026 file by December 31, 2026. Those authorized on or after that date file within 30 days of applying for a Certificate of Authority. Annual filings follow.
| Situation | Deadline |
|---|---|
| Non-US LLC authorized before January 1, 2026 | December 31, 2026 |
| Non-US LLC authorized on or after January 1, 2026 | 30 days from the Certificate of Authority application |
| Every year afterwards | Annual filing, plus corrections when details change |
| US-formed LLC | Nothing to file |
The fee is $25 per filing, submitted electronically through the Department of State.
Contents
What the filing contains
Two possible documents. A Beneficial Ownership Disclosure if the LLC is a reporting company, or an Attestation of Exemption if it qualifies for one of the statutory exemptions.
A disclosure carries each beneficial owner's full name, date of birth, business address, and a passport or state identification number. The same details are given for the applicant who made the filing.
The definitions of beneficial owner track the federal Corporate Transparency Act, so a company that already worked through federal reporting will recognise the test.
Beneficial ownership information filed here is not public. It goes to a database available to law enforcement and certain government agencies.
Enforcement
The penalties
Past due status after 30 days with fines up to $500 a day, suspension after 60 days plus a $250 fine, and possible dissolution once a filing is two years overdue.
The daily fine is what makes this one different from the $9 Biennial Statement. Five hundred dollars a day compounds quickly, and past due status shows on the public database while it does.
Filing false information carries civil penalties and can carry criminal exposure under the Penal Law.
If you are inside the scope, this is worth a lawyer rather than a form filling service. If you are a US-formed LLC, it is worth nothing at all, because you have no filing to make.
Foreign LLC registration in general is on this page, and the recurring $9 filing everyone does owe is the Biennial Statement.
Foreign LLC headed for New York?
You need a New York address on the record. Ours costs $49 a year.