ALERT [Updated Feb. 19, 2025]: Beneficial ownership reporting is back in effect with a new deadline of January 12, 2026. Companies must comply by this date or face severe penalties, including fines of $592 per day, up to two years in prison, and a $10,000 fine for willful failure to file.
NYLTA.com™
New York LLC Transparency Act
Compliance Made Simple
As of January 1, 2026, authorized reporting companies are required to submit a filing under the New York LLC Transparency Act (NYLTA)—either a beneficial ownership disclosure or an exemption attestation, depending on their status under current law.
NYLTA.com™ is New York’s first dedicated compliance review and monitoring platform, built to help businesses understand their obligations, track changes in the law, and file the appropriate submission when required—so they stay in good standing without the stress of government paperwork.
Monitoring is strongly recommended due to evolving New York Department of State implementation guidance.
🔒 Secure & Encrypted Submission
You’ll be guided through a secure NYLTA compliance review to determine your filing status.
Important NYLTA Information
New York LLC Ownership Disclosure
Effective January 1, 2026, the New York LLC Transparency Act (NYLTA) is in effect.
At this time, filing requirements apply primarily to foreign LLCs authorized to do business in New York.
Domestic New York LLCs are not currently required to submit a filing, based on existing NYDOS guidance. However, the Department of State has indicated that implementation guidance may continue to evolve, and additional filing requirements may be introduced.
What Businesses Should Know:
Foreign LLCs may be required to submit a Beneficial Ownership Disclosure or Exemption Attestation, depending on status.
Domestic NY LLCs should remain vigilant, as future guidance or rule making may expand filing obligations.
Exempt entities, if required to act, may still need to submit an Exemption Attestation.
Non-compliance, when a filing is required, may result in penalties, loss of good standing, or loss of authority to operate.
NYLTA.com™ provides compliance review and ongoing monitoring, helping businesses track changes in NYDOS guidance and prepare responsibly — without filing anything unless and until it is required and expressly authorized
Information provided for general informational purposes only and does not constitute legal advice.
Useful Information
Find answers to the most common questions about the New York LLC Transparency Act and how NYLTA.com™ can help you stay compliant.
1. What is the New York LLC Transparency Act (NYLTA)?
The New York LLC Transparency Act (NYLTA), is a state law that took effect on January 1, 2026, and establishes ownership disclosure requirements for authorized reporting companies- currently foreign LLCs registered to do business in New York.
Under the NYLTA, each reporting company is required to submit one of the following, depending on its status under current law:
•Beneficial Ownership Disclosure or
•an Exemption Attestation, confirming that the entity qualifies for an exemption.
The NYLTA is intended to support broader transparency efforts by helping prevent the misuse of anonymous entities and strengthening accountability within New York's business environment.
2. Who is required to comply with NYLTA?
All authorized reporting companies, which are foreign LLCs registered to do business in the state, are required to comply with the New York LLC Transparency Act (NYLTA).
Every reporting company must file either a Beneficial Ownership Disclosure or an Exemption Attestation with the New York Department of State — even if the company qualifies for one of the 23 exemptions outlined under the federal Corporate Transparency Act (CTA).
3. What is a ‘beneficial owner’?
A beneficial owner is any individual who either:
● Directly or indirectly owns 25 percent or more of the ownership interests of the LLC, or
● Exercises substantial control over the company (for example, a managing member or executive).
4. What information needs to be reported?
Each beneficial owner’s:
● Full legal name
● Date of birth
● Current business or residential address
● A unique identifying number (from an unexpired driver’s license, unexpired passport, or other unexpired government-issued ID)
🔒 Note: All information is securely submitted to the New York Department of State on your behalf.
Exempt entities must then file a brief Attestation of Exemption confirming their qualifying status.
5. Is the information submitted under NYLTA public?
No. Under the New York LLC Transparency Act, beneficial ownership information will be maintained in a secure, non-public database by the New York Department of State.
The information is not publicly available, except in limited cases — for example, if required by law enforcement, pursuant to a court order, or with the LLC’s consent. LLCs may also apply for a confidentiality exemption if disclosure could create a privacy or safety risk.
6. Are there exemptions?
Yes — but they are narrow. The NYLTA exemptions mirror those in the federal CTA, including:
● Banks, credit unions, and insurance companies
● SEC-registered entities
● Large operating companies with more than 20 full-time employees, over $5 million in annual U.S. revenue, and a physical U.S. office
⚠️ Important:
Even if your LLC qualifies for an exemption, you are still required to file an Exemption Attestation with the New York Department of State, which we file for you.
Our 3-Step Compliance Review Process
01
Provide LLC Information
Enter your LLC details through NYLTA.com™ to begin your compliance review.
Our platform uses encryption and advanced security measures to protect your business information at every step.
02
We Review Your Information & Determine Next Steps
We review the information you provide to assess your company’s status under the New York LLC Transparency Act. Based on current law, your business may require a Beneficial Ownership Disclosure, an Exemption Attestation, or monitoring only with no filing required at this time.
Your information is securely stored to enable ongoing monitoring and to support future filings if requirements change.
03
File When Required &
Stay Monitored
If a filing is required, we securely transmit the appropriate submission to the New York Department of State. We also provide ongoing monitoring and
reminders for legal or status changes that may affect your compliance—helping you maintain good standing year-round.
Why Choose NYLTA.com™
NYLTA.com™ is New York’s first dedicated compliance review and monitoring platform built specifically for the New York LLC Transparency Act. Our system helps businesses understand their obligations, securely collect required information, determine the appropriate compliance path, and submit filings only when required, all in alignment with current New York Department of State guidance.
Powered by New Way Enterprise LLC, the platform pairs leading technology with deep business compliance knowledge to create an easy, dependable compliance experience for LLC owners.
No outside law firm or CPA is required for businesses to complete NYLTA compliance independently; however, NYLTA.com™ also provides professional tools for attorneys and CPAs managing filings for their clients.
Whether managing one LLC or hundreds, NYLTA.com™ offers scalable tools for compliance review, ongoing monitoring, and filing support, helping businesses stay aligned with state requirements and avoid unnecessary risk or penalties.