No SSN · No trip to the USLLC and C-Corp formation · No SSN · No trip to the US
What changed in the industry over the past year: FinCEN and the IRS, state fees, banks and EMIs, taxes for foreign-owned LLCs. Every post is dated and links to primary sources.
Compliance
Under the final rule of August 11, 2026, only companies formed under foreign law and registered in a US state must report beneficial owners. A non-resident's LLC or C-Corp formed in the US files no BOI report at all.
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States
HB 400 was signed on May 21, 2026: the flat annual tax for LLCs, LPs and GPs rose to $400 retroactively from January 1, 2026. Many Division of Corporations fees also went up on August 1.
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Formation
Among 288 announcements at Stripe Sessions on April 28–30, 2026: SAFE rounds paid straight into a Stripe Treasury account. Atlas pricing, according to reviews, is unchanged: $500 plus $100 a year.
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EIN and taxes
For foreign-owned single-member LLCs, the 2025 filing was due April 15, 2026: no e-file and a $25,000 penalty per form. Meanwhile IRS staff cuts have lengthened paper processing.
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States
SF 82 would have required registered agents to keep the names and addresses of every company's owners. The Senate passed it in February 2026, but a House committee shelved it, so Wyoming LLC anonymity holds at least until the 2027 session.
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Banking and payments
In March 2026 an updated list of Mercury's prohibited countries circulated online, including Russia, Belarus, Kyrgyzstan, Uzbekistan and Ukraine. The test is the founder's country of residence, not citizenship.
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States
On February 27, 2026, the court unanimously found the SB 21 amendments to Delaware corporate law constitutional. Public companies are still moving to Texas and Nevada.
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Banking and payments
In 2026, Shopify underwriters reject registered agent and virtual mailbox addresses, and Amazon re-verifies sellers at least once a year under the INFORM Consumers Act. The "LLC + EIN + virtual address" setup works less and less.
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EIN and taxes
On October 23, 2025, the IRS confirmed that the One Big Beautiful Bill Act retroactively repealed the $600 threshold. Stripe, PayPal and marketplaces issue a 1099-K only when both limits are exceeded: $20,000 in volume and 200 transactions a year.
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Banking and payments
In July 2025, regulators in New York, California, Massachusetts, Texas, Minnesota and Nebraska fined Wise US over BSA/AML control gaps. In 2026, formation agents report noticeably fewer approvals for foreign-owned LLCs.
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EIN and taxes
On June 26–27, 2025, Congress removed Section 899 from the tax package: a surcharge of up to 5 percentage points a year on US taxes for residents of countries with "discriminatory" taxes. Talk of bringing it back continued into 2026.
ReadNot legal or tax advice. Rules change, so check primary sources or ask a qualified advisor before you decide.
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