Trusted Guidance for Forming a U.S. LLC

No — not if your LLC was formed in the United States. FinCEN's interim final rule of March 2025, made permanent by a final rule on August 14, 2026, exempts all U.S.-created companies, including LLCs, and their U.S. owners from Beneficial Ownership Information reporting under the Corporate Transparency Act. Only entities formed under foreign law that register to do business in a U.S. state must still report. Be wary of mailers or emails demanding a BOI filing fee.

Yes, legally you can serve as your own Registered Agent in all 50 states. However, your address will be listed on the public state database, accessible to marketers and anyone searching for you. Additionally, you must be physically present at that address during all normal business hours to accept service of process (lawsuits). If you value privacy or travel often, a professional service (~$100/yr) is recommended.

Yes. If you fail to file your Annual Report or pay your Franchise Tax, the state will place your LLC into 'Bad Standing.' If left unresolved, the state will 'Administrative Dissolve' your company. This removes your liability protection, meaning you could be personally sued for business debts incurred during that time.

Yes, practically speaking. While single-member LLCs with no employees technically can use the owner's Social Security Number (SSN), most banks require an EIN to open a business bank account. Using an EIN also helps prevent identity theft by keeping your SSN off vendor forms.

Yes. California imposes an $800 minimum annual franchise tax on every LLC doing business in the state, regardless of revenue — including in its first year. The temporary first-year exemption only covered LLCs formed from 2021 through 2023 and expired on January 1, 2024. The tax is due to the Franchise Tax Board by the 15th day of the fourth month of your tax year, and LLCs with more than $250,000 in California gross receipts owe an additional graduated fee.