Question about Share holders /OOI Form

[Hewnspirits]

The TTB specialist reviewing my application has asked me to fill in a separate OOI application/form for my 9.5% investors who aren't officers of the LLC.....just investors. I was under the impression that anyone under 10% didn't need to get vetted or have to be listed on their own OOI listing? My TTB Agent has been very helpful so far but seems a bit unsure on this one herself. Any thoughts?

[rumfarmer]

My understanding is that anything in excess of 9% required the OOI. We did maximum share blocks of 9% for our raise for this reason. No OOI needed for any of the 3 investors we took on.

[Hewnspirits]

That's what I thought....tricky part is trying to explain their own rules back to the TTB

[Mash]

Yep, 10% or more had to have the OOI for my application. We have a total of 26 investors and only 3 @ 10% and above. It's in CFR27, just can't tell you the page.

[Hewnspirits]

Does it matter if they are "members" of the entity? That's how our Operating Agreement lists them.

[rumfarmer]

Ours are also members. That wasn't a problem.

[whiskeytango]

Just fill them out, there is going to be plenty of road blocks that will be a lot harder to solve than this one. It takes about 10 minutes to do it and unless they have something to hide its no big deal.

[Stills Crossroad]

The way I read it was all members of an LLC need to file OOI forms. Other corporations did not require OOI under 10%. We also went down and got fingerprinted together for the State. It was a great bonding experience!

[Hewnspirits]

Thanks James. Can you tell me where you found that specific language?