A recent filing by an Amprius Technologies officer highlighted a routine event for US public companies: the SEC Form 4, which reports changes in insider ownership of securities. While this specific document applies to publicly traded entities, the term "beneficial ownership" should now be a critical focus for any cross-border incorporation guide for Asian founders establishing a private company in the United States. The reason is the Corporate Transparency Act (CTA), a landmark U.S. regulation that imposes new, strict reporting requirements on a vast number of private companies, including those owned by foreign nationals.

Understanding the Corporate Transparency Act (CTA)

Effective January 1, 2024, the CTA mandates that most newly formed and existing US companies file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury Department. This is not a tax filing; it is a federal disclosure designed to combat financial crimes. The purpose is to create a federal database of the individuals who ultimately own or control private companies operating in the US.

A "reporting company" includes most corporations, limited liability companies (LLCs), and other similar entities created by filing with a state office, such as the Delaware Secretary of State. A very small set of exemptions apply, but overwhelmingly, the Delaware C-Corp favored by venture capitalists and foreign founders will be subject to this rule. For founders in the US-China-Hong Kong-Singapore corridor, this means your US operating entity must comply.

Defining "Beneficial Owner" for US Reporting

The CTA’s definition of a beneficial owner is broad and requires careful analysis. An individual is considered a beneficial owner if they meet either of the following criteria:

  • Ownership Test: The individual directly or indirectly exercises substantial control over the company, or owns or controls at least 25 percent of the company's ownership interests.
  • Control Test: The individual serves as a senior officer (e.g., President, CFO, General Counsel), or makes important decisions for the company, such as appointing board members, approving budgets, or determining the entity's direction.

This has direct implications for typical holding company structures. For example, if a founder's Singapore Pte Ltd or Hong Kong Ltd owns 100% of the US C-Corp, the founder(s) of the Asian holding company must be identified as the beneficial owners of the US reporting company. The US entity cannot simply list the Pte Ltd as the owner and stop there; it must look through the foreign entity to the natural persons behind it.

Practical Steps for US Entity Formation

Failing to file a BOI report or filing inaccurate information can lead to severe penalties, including civil fines up to $10,000 and potential criminal liability. For first-time structurers, integrating BOI compliance into the entity formation process is non-negotiable. Here are the critical next steps:

First, conduct a thorough beneficial owner analysis as part of your Delaware C-Corp setup for foreign founders. Do not assume this is just the primary founder. Identify any individual who will have a senior officer title or who will hold more than 25% of the equity directly or through another entity. This includes silent partners or family members involved in the business.

Next, gather the specific required information for each beneficial owner. FinCEN requires the individual's full legal name, date of birth, residential address, and a unique identifying number from a non-expired government-issued document, such as a foreign passport or driver's license. For non-US persons, a passport number from their country of citizenship is typically used. An ITIN or SSN is not required for this specific filing.

Finally, be acutely aware of the filing deadlines. Companies created before 2024 had an initial filing deadline of January 1, 2025. Companies created in 2024 have 90 calendar days from formation to file. From January 1, 2025, the deadline tightens significantly: new companies will only have 30 days to file their initial BOI report. Furthermore, any change to a beneficial owner's information (e.g., a change of address or passport number) must be updated within 30 days.

YZ CPA Advisory View

For Singapore, Hong Kong, and China-outbound founders, the CTA fundamentally changes the initial compliance equation for a US launch. It elevates US corporate governance from a primarily tax-focused activity to one requiring continuous, detailed disclosure of the individuals behind the structure. Integrating BOI planning into the initial cross-border corporate structuring for SG and HK founders is no longer optional—it's a mission-critical first step to ensure legal compliance and operational stability from day one.

Structuring for Compliance and Future Growth

While the BOI report is a standalone compliance requirement, it intersects with broader strategic decisions. A well-designed holding structure is essential not only for tax efficiency through international tax planning and US-China treaty optimization but now also for simplifying beneficial ownership reporting. A clean, transparent ownership chain makes it far easier to identify and report beneficial owners accurately, reducing the risk of errors and penalties. As the US company grows, brings on new investors, or prepares senior leadership, each of these events will trigger an update to the BOI report, making continuous diligence a core operational requirement.

To discuss how these developments affect your cross-border operations, schedule a consultation with YZ CPA Advisory or explore our international tax planning and US-China treaty optimization service.

中文摘要

美国《企业透明法》（CTA）对在美国运营的私营公司提出了新的“实益所有权信息”（BOI）申报要求。对于从新加坡、香港或中国赴美设立公司的创业者而言，理解并遵守这项规定至关重要，因为它要求公司披露最终控制人或拥有25%以上股权的个人身份信息，否则将面临高额罚款。

Amprius Technologies 一位高管最近的申报文件，突显了美国上市公司的一项常规事件：SEC Form 4，该表格用于报告公司内部人员证券所有权的变化。尽管此特定文件适用于上市公司，但“实益所有权”这一术语，现在应成为任何亚洲创始人的跨境公司设立指南中的一项关键焦点，尤其是当他们在美国设立私营公司时。其原因在于《企业透明法》（Corporate Transparency Act, CTA），这是一项具有里程碑意义的美国法规，对大量私营公司（包括由外籍人士拥有的公司）施加了全新且严格的申报要求。

理解《企业透明法》（CTA）

自2024年1月1日起，《企业透明法》要求大多数新成立及现有的美国公司，向隶属于美国财政部的金融犯罪执法网络（Financial Crimes Enforcement Network, FinCEN）提交实益所有权信息（Beneficial Ownership Information, BOI）报告。这并非税务申报，而是一项旨在打击金融犯罪的联邦披露。其目的是建立一个联邦数据库，记录在美国运营的私营公司的最终所有者或控制者。

“申报公司”包括大多数通过向州政府部门（如特拉华州州务卿）注册而成立的公司、有限责任公司及其他类似实体。虽然有极少数的豁免情况，但绝大多数受风险投资人和外国创始人青睐的 Delaware C-Corp 都将受该规则约束。对于活跃于中美港新走廊的创始人而言，这意味着您的美国运营实体必须遵守此项规定。

定义美国申报中的“实益所有人”

CTA 对实益所有人的定义非常宽泛，需要仔细分析。如果个人符合以下任一标准，即被视为实益所有人：

  • 所有权测试：个人直接或间接对公司行使重大控制权，或拥有或控制公司至少25%的所有权权益。
  • 控制权测试：个人担任公司高级管理人员（如 President、CFO、General Counsel），或为公司做出重大决策，例如任命董事会成员、批准预算或决定实体的发展方向。

这对典型的控股公司结构有直接影响。例如，如果创始人设立的 Singapore Pte Ltd 或 Hong Kong Ltd 100% 持有 US C-Corp，则该亚洲控股公司的创始人必须被识别为美国申报公司的实益所有人。美国实体不能仅将 Pte Ltd 列为所有者就了事，而必须穿透该外国实体，识别其背后的自然人。

设立美国实体的实操步骤

未能提交 BOI 报告或提交不准确信息，可能导致严厉的处罚，包括高达 $10,000 的民事罚款和潜在的刑事责任。对于初次进行架构搭建的创始人而言，将 BOI 合规性纳入实体设立流程是至关重要的。以下是关键的后续步骤：

首先，在您的为外国创始人设立 Delaware C-Corp 的流程中，进行彻底的实益所有人分析。不要想当然地认为这仅指主要创始人。任何将担任高级管理人员职位，或直接或通过另一实体持有超过25%股权的个人，都应被识别。这包括参与业务的隐名合伙人或家庭成员。

接下来，为每位实益所有人收集所需的特定信息。FinCEN 要求提供个人的全名、出生日期、居住地址，以及来自非过期政府签发文件的唯一识别号码（如外国护照或驾照）。对于非美国人士，通常使用其国籍国的护照号码。此项特定申报无需提供 ITIN 或 SSN。

最后，务必密切关注申报截止日期。在2024年之前成立的公司，其初始申报截止日期为2025年1月1日。在2024年成立的公司，则有90个日历日的申报期限。从2025年1月1日起，截止日期将大幅缩短：新公司仅有30天的时间来提交其初始 BOI 报告。此外，任何对实益所有人信息的变更（如地址或护照号码变更），都必须在30天内进行更新。

YZ CPA 顾问观点

对于来自新加坡、香港及中国的出海创始人而言，《企业透明法》从根本上改变了在美国启动的初期合规要求。它将美国公司治理从过去主要围绕税务的活动，提升为要求持续、详细披露结构背后个人信息的一项工作。在最初的为新加坡和香港创始人提供跨境公司架构服务中纳入 BOI 规划，已不再是可选项——这是确保从第一天起就实现法律合规和运营稳定的首个关键步骤。

为合规与未来发展进行架构设计

虽然 BOI 报告是一项独立的合规要求，但它与更广泛的战略决策相互关联。一个精心设计的控股结构，对于通过国际税务规划及中美税收协定优化实现税务效率至关重要，如今也同样有助于简化实益所有权申报。一个清晰、透明的所有权链，使得准确识别和申报实益所有人的工作变得容易得多，从而降低错误和受罚的风险。随着美国公司的发展、引入新投资者或准备高级管理层团队，这些事件中的每一项都将触发 BOI 报告的更新，使持续尽职调查成为一项核心运营要求。

如需讨论这些进展如何影响您的跨境运营，请预约咨询 YZ CPA 顾问服务，或了解我们的国际税务规划及中美税收协定优化服务。

中文摘要

美国《企业透明法》（CTA）对在美国运营的私营公司提出了新的“实益所有权信息”（BOI）申报要求。对于从新加坡、香港或中国赴美设立公司的创业者而言，理解并遵守这项规定至关重要，因为它要求公司披露最终控制人或拥有25%以上股权的个人身份信息，否则将面临高额罚款。

Reference: Background from Moomoo. This is original YZ CPA Advisory analysis.