FinCEN Trims the Filing List for Aircraft-Holding LLCs

The Financial Crimes Enforcement Network has finalized a rule narrowing which entities must comply with federal ownership reporting requirements. For owners who hold aircraft through single-purpose LLCs, a common structure for liability and tax reasons, the change means fewer of those entities will fall under the rule going forward. It amounts to one less compliance line item for owners who set up such structures purely to hold a single asset.

With reporting from Flying.