Nominee Directors Officers and Managers

For over 75 years, Nominee Directors Officers and Managers have been used in Nevada & Wyoming. The reason why they were used was to take advantage of the financial privacy provided by the favorable corporate laws in Nevada & Wyoming. In Wyoming, you don’t have to disclose information on company ownership, stock, or capital. Only one person is required to be listed on any public record in Wyoming.

It can’t be denied that Government restrictions and fiduciary liability have over the years, limited how nominees can be used. IRS restrictions have ensured that Nominee Directors Officers and Managers can no longer obtain Federal Employer Identification Numbers or sign Federal Income Tax Returns. As for banking, the bank will hold the Nominee Directors Officers and Managers to a fiduciary duty should there be any problems, therefore, Nominee Directors Officers and Managers will no longer open bank accounts.

According to prosecutors, anyone who does not want to be identified is probably involved in “the fraudulent intent of concealing the identity important company officer”. And as you guessed, this puts everyone, in a compromising position as they will now have to look for ways to defend their innocence.

You should also check out the New Federal Law that went into place January 1, 2024 called the Corporate Transparency Act (CTA). The CTA establishes a beneficial ownership reporting requirement for corporations, limited liability companies, and other similar entities formed or registered to do business in the United States. Most new and existing businesses are required to file a Beneficial Ownership Information report with the Financial Crimes Enforcement Network (FinCEN) a bureau of the US Department of Treasury. Please Go To https://discountregisteredagents.com/federal-compliance-links/ for more information:

There are some risks that should never be taken.

Most of the clients we serve have the need to have companies that are private. In addition, they do their best to pay their taxes, run their businesses legally, and in addition are honest members of society. If a client is compromising our integrity as a Registered Agent, the best we can do is let go of them.

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