Question:  I have an LLC that I formed years ago that is dormant.  It does not have any assets or get any income.  It is not operating a business.  Will my inactive LLC have to file a FinCEN report that contains beneficial owner information?

Answer:  Yes if it exists on January 1, 2025.  To avoid filing a FinCEN report and the CTA’s $500/day late filing penalty you should terminate/kill all inactive entities before January 1, 2025.

How to Terminate an AZ LLC or PLLC:  If you want to terminate an Arizona LLC or PLLC hire us to terminate it by completing and submitting our termination questionnaire at:

For more information on terminating an Arizona LLC, see my article on this subject found at:

P.S.  Dormant and inactive corporations and limited partnerships should also be terminated to avoid the FinCEN report filing requirement.