NEW YORK’S LLC TRANSPARENCY ACT GOES INTO EFFECT JANUARY 1, 2026
October 29, 2025
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New York’s LLC Transparency Act goes into effect on January 1, 2026, meaning that existing and newly formed limited liability companies organized in the state of New York or registered to do business in New York state should be prepared to comply. The Act seeks to combat financial crime by requiring LLCs to disclose their ownership. Non-exempt LLCs must file annual reports with the New York Department of State containing specific information for each beneficial owner such as their legal name, date of birth, current home or business address, and a unique identification number (e.g., driver’s license or passport). Existing LLCs must file reports by January 1, 2027, while new LLCs must file within 30 days of formation.
This Aviation Blog Post is intended to keep readers current on developments in the law. It is not intended to be legal advice. If you have any questions, please contact Evelyn Sahr at 202.659.6622 or esahr@eckertseamans.com; Drew Derco at 202.659.6665 or dderco@eckertseamans.com; Jay Julien at 202.659.6648 or jjulien@eckertseamans.com; Tyler Myers at 202.659.6642 or trmyers@eckertseamans.com, or any other attorney at Eckert Seamans with whom you have been working.
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