§ 215 — Beneficial ownership disclosure

* § 215. Beneficial ownership disclosure. (a) When filing the articles\nof organization pursuant to section two hundred three of this article or\nfiling an amendment of the articles of organization pursuant to section\ntwo hundred eleven of this article, the reporting company shall file\nwith the department of state a beneficial ownership disclosure, and any\nupdates to such information, as may be applicable, identifying each\nbeneficial owner by: (1) full legal name; (2) date of birth; (3) current\nbusiness street address; and (4) a unique identifying number from an\nacceptable identification document defined in 31 U.S.C. § 5336 (a)(1).\nProvided, however, that where an initial report contains the information\nrequired herein, a reporting company may submit a copy of the initial\nreport, submitted to the federal government pursuant to 31 U.S.C. §\n5336, to satisfy the requirements of this section.\n (b) All personal or identifying information of beneficial owners\nprovided to the department of state under this section not required to\nbe included in the business entity database pursuant to section one\nhundred-b of the executive law, shall be deemed confidential except for\nthe purposes of law enforcement, or as otherwise required to be\ndisclosed pursuant to a court order. If confidential information\nassociated with a beneficial owner is held electronically, such records\nshall be encrypted or protected in a substantially similar manner. The\ndepartment of state shall, upon the filing of each beneficial ownership\ndisclosure, assign each beneficial owner of a limited liability company\nan anonymized unique identifying number, which shall not be based on any\npersonally identifying number including but not limited to a social\nsecurity or tax identification number assigned to or associated with\nsuch beneficial owner.\n (c) (1) Each reporting company formed on or before the effective date\nof this section shall file the information required under subdivision\n(a) of this section; and each exempt company formed on or before the\neffective date of this section shall file a statement signed by a member\nor manager indicating the provision or provisions of 31 U.S.C. §\n5336(a)(11)(B), excluding such company from the definition of a\nreporting company, with the department of state no later than January\nfirst, two thousand twenty-five.\n (2) A reporting company which has failed to file the beneficial\nownership disclosure as required by this section for a period exceeding\nthirty days shall be shown to be past due on the records of the\ndepartment of state until an up-to-date beneficial ownership disclosure\nis filed with the department.\n (3) A reporting company which has failed to file the beneficial\nownership disclosure as required by this section for a period exceeding\ntwo years shall be shown to be delinquent on the records of the\ndepartment of state after a notice of delinquency has been mailed to the\nlast known business address of such reporting company, and such company\nhas failed to file such information within sixty days of the mailing of\nsuch notice. Such delinquency shall be removed from the records of the\ndepartment of state upon the filing of an up-to-date beneficial\nownership disclosure, and the payment of a civil penalty of two hundred\nfifty dollars.\n * NB Effective and Repealed January 1, 2026\n