§ 810 — Beneficial ownership disclosure

* § 810. Beneficial ownership disclosure. (a) When filing the\napplication for authority pursuant to section eight hundred two of this\narticle or filing any amendments to an application for authority\npursuant to section eight hundred four of this article, a reporting\ncompany shall file with the department of state a beneficial ownership\ndisclosure, or any updates to such information, as may be applicable,\nidentifying each beneficial owner by: (1) full legal name; (2) date of\nbirth; (3) current business street address; and (4) a unique identifying\nnumber from an acceptable identification document defined in 31 U.S.C. §\n5336(a)(1). Provided, however, that where an initial report contains the\ninformation required herein, such foreign limited liability company\nshall submit a copy of the initial report such company submitted to the\nfederal government pursuant to 31 U.S.C. § 5336 in order to satisfy the\nrequirements 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 foreign limited liability\ncompany an anonymized unique identifying number, which shall not be\nbased on any personally identifying number including but not limited to\na social security or tax identification number assigned to or associated\nwith such beneficial owner.\n (c) (1) Each reporting company formed pursuant to section eight\nhundred two of this chapter, on or before the effective date of this\nsection shall file the information required under subdivision (a) of\nthis section; and each exempt company shall file a statement signed by a\nmember or manager indicating the provision or provisions of 31 U.S.C. §\n5336(a)(11)(B) excluding such company from the definition of a reporting\ncompany, with the department of state no later than January first, two\nthousand twenty-five.\n (2) A reporting company which has failed to file its 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 its 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 company and such company has failed\nto file such information within sixty days of the mailing of such\nnotice. Such delinquency shall be removed from the records of the\ndepartment of state upon the filing of an up-to-date beneficial\nownership disclosure required by this section, and the payment of a\ncivil penalty of two hundred fifty dollars.\n * NB Effective and Repealed January 1, 2026\n