Inside if you are a US Business Entity Using Paxum
 

Can anyone tell us what "public authority" they are speaking about to confirm shareholders in an LLC?

I can see Paxum nose-diving in 3-2-....

Consider another payout method. IF you are a US based entity.

Paxum apparently has no clue as to the difference between a public corporation or an LLC.

You have to file an annual report for your corporation, LLC, PC with the state it is domicile in. The annual report lists the officer's names and addresses of record (this can be the corporation's address (offices)). Shareholders that are not officers are not listed -- with the exception of SEC reports of publicly traded stock companies. This is public record (searchable and retrievable). The state is "public authority".

Sounds like FinCen wants to know. Verification of corporate identity.

Thanks for your info. For our state we have never been required to file a report. But I will confirm.

I am going by...
https://www.sec.gov/fast-answers/ans...ehlisthtm.html

But I think you are correct. Paxum is calling it KIY however. lol. We are closing our Paxum account.

LP/LLC/GP Tax

Although Limited Partnerships, Limited Liability Companies and General Partnerships formed in the State of Delaware do not file an Annual Report, they are required to pay an annual tax of $250.00 ($300.00 to be made effective July 1, 2014, beginning tax year 2014). Taxes for these entities are due on or before June 1st of each year. Penalty for non-payment or late payment is $200.00. Interest accrues on the tax and penalty at the rate of 1.5% per month.

https://corp.delaware.gov/frtax.shtml

Compliant for 10+ years. :)

Then the "public authority" is the state of Delaware and the last record of standing the verification.

You sure?
https://corp.delaware.gov/paytaxes.shtml
read this page

LLC, LP and GP companies are exempt -- corporations need to file reports.