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USA - Corporate Compliance

Compliance requirements for limited liability companies (LLCs) which are registered in the states of Georgia, Delaware and New York are broadly similar. Tax filing requirements are governed by the classification of a LLC. For all states, there are:

  • No requirements for an annual audit, unless mandated by the LLC members
  • No obligations to hold an annual meeting, unless it is stipulated in the agreement
  • No stipulations about annual meetings, again unless it is specifically mandated in the agreement
  • An annual foreign currency account reporting (FBAR) may be required by a US LLC where the aggregate of foreign accounts which the LLC has financial interest in, or has signature authority (or other authority that is comparable to signature authority) over, exceeds US $10,000 at anytime during a calendar year.

Pearse Trust’s Atlanta office has a lengthy track record of advising international clients on legal and compliance issues relating to LLCs.