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    Update on New York LLC Beneficial Owner Reporting

    On March 1, 2024, the Governor of New York signed a law that amends the New York LLC Transparency Act, which originally had been enacted on December 22, 2023. (The original law was discussed in our January 3, 2024 post.)

    The amendment to the law pushes back the effective date until 2026, so LLCs will not have to file initial reports about their beneficial owners until 2026. However, once an LLC files its initial report, it will be required to file an annual statement confirming or updating the information about its beneficial owners.

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