Private company due diligence in the United States
US private deals have no single register. We read fifty state registries, UCC filings (liens over business assets), federal court dockets and SEC filings, then check them against the company's own cash.
State secretary of state records, UCC liens, PACER (federal court records), SEC EDGAR (SEC filings), OFAC (US sanctions lists) and consented bank data.
Where Kubr stands in the United States
Stage: Scoping. Public-record checks on US entities are the first build. Bank-data and tax-transcript routes need consent partners, which are still being confirmed. No pack is sold yet.
Clients here: institutional clients.
For institutional clients only. Not investment advice. Not an offer of securities.
US records sit in fifty state systems, so we read the registries, liens, dockets and consented cash data in one pass.
Registers and records we read in the United States
| Source | What it holds | How we get it |
|---|---|---|
| State secretary of state and corporation registries (Delaware, California, New York, Texas, Florida and others) | Entity name, file number, status, formation date, registered agent, and in some states officers, directors and annual reports. Depth differs by state. | Read by Kubr |
| State UCC filing offices | Financing statements against a debtor name: secured party, collateral description, filing date, amendments and continuations. Usually filed in the state where a registered organization is formed. | Read by Kubr |
| SEC EDGAR | Filings of public companies, including annual and quarterly reports, and Form D notices (filings a private company makes with the SEC when it raises money under an exemption). | Read by Kubr |
| SEC and FINRA adviser and broker records (IAPD and BrokerCheck) | Form ADV for registered advisers and exempt reporting advisers, and registration and disclosure history for brokers and firms. | Read by Kubr |
| PACER (federal district, bankruptcy and appellate courts) | Party-name search across federal courts, dockets and filed documents. Bankruptcy cases are searchable. PACER charges per page. | Read by Kubr |
| State and county court dockets | Civil, commercial, tax lien and judgment records. No single national index exists, so coverage depends on the courts searched. | Read by Kubr |
| US Department of the Treasury, OFAC sanctions lists | Specially Designated Nationals and other sanctions lists. | Read by Kubr |
| State tax authorities and comptrollers | Where a state publishes it, franchise tax or sales tax permit status. Publication differs by state. | Read by Kubr |
| State and federal licensing bodies | Professional and business licences held by the company or its principals, where published. | Read by Kubr |
| US Patent and Trademark Office | Registered and pending trademarks and patents, with owner of record. | Read by Kubr |
| Consented bank data through an aggregator | Account balances and transaction history for the accounts the company chooses to link. | Read after the company consents |
| IRS transcripts through Form 4506-C | Tax return and account transcripts for the entity, released only on the taxpayer's signed consent, through an IRS-approved participant in its IVES programme (approved requesters of transcripts). | Read after the company consents |
| Accounting ledger and payment-processor connections | Ledger entries, invoices and processor payouts, read with the company's consent. | Read after the company consents |
| Company data room | Financial statements, sales tax filings, payroll reports, contracts and cap table (who owns what). | Supplied by the company |
Rules that shape the work
- Company law and registry
- There is no national company register. Each state keeps its own, and most companies are formed under state law, often Delaware, so a company can sit in one state and operate in another. Depth varies. Florida shows current officers and directors. Delaware's free search shows name, file number, formation date and registered agent, and charges for status certificates and filed documents. The Corporate Transparency Act reporting duty for US companies was permanently removed by a final rule of FinCEN, the US financial crimes regulator, published on 14 August 2026, so there is no federal beneficial ownership file to read for domestic companies. Only foreign-formed companies registered in a US state still report.
- Data protection
- There is no single federal privacy law. The Gramm-Leach-Bliley Act covers consumer financial information held by financial institutions. Roughly twenty states have comprehensive consumer privacy laws, and California's is the best known. How each applies to director and founder data, and to us as a processor, is to be confirmed with local counsel.
- Financial data
- Consented bank data through an aggregator is the working route. The CFPB Section 1033 rule, the US rule on access to bank data, covers consumer accounts only, is enjoined by a federal court, and is being rewritten. A new proposal went to the White House regulatory office in August 2026. So business account access rests on bank and aggregator agreements, not on a federal right. Coverage of business accounts varies by bank and is confirmed at intake.
- Securities regulator
- The SEC, state securities regulators and FINRA, the broker regulator. Advice about securities needs registration as an investment adviser, with the SEC or a state depending on assets and location. Kubr is not registered and gives no advice.
- Speed
- State registry and UCC pulls run in minutes where a state allows it. Federal docket searches run quickly. State and county court searches take longer because there is no single index. Standard packs take 2 to 5 days from complete inputs.
- Reliability
- Private company financials are not filed anywhere public. Ownership and officer depth changes by state. Every report states what we could not see.
How we check sales and cash here
The US has no sales-tax return feed to read, because sales tax is set and collected state by state. Private companies do not file accounts publicly. Federal beneficial ownership reporting is closed to US companies. So we cross-check consented data and public records, and where a route is not confirmed we say so.
Where your data is held
As a design commitment, US data is sourced from providers licensed in the United States and handled inside the United States. Nothing about a US company or person is designed to leave US hosting.
Sourced from: US-licensed public-records and court-records aggregators, UCC search providers with state filing office access, and consent-based bank-data aggregators, alongside official registers such as state registries, PACER, SEC EDGAR and OFAC.
Stored and processed on US-hosted infrastructure, with access limited to named analysts. Nothing crosses borders, by design. This is a pre-launch commitment and not yet an audited fact.
Reports available in the United States
- Verified SnapshotFull
Entity status and registered agent from the home state and states of operation, UCC filings by debtor name, federal dockets and bankruptcy on PACER, SEC and FINRA records, OFAC screen and press. Limits: Officer and owner detail depends on the state. Free Delaware records show no officers, and there is no federal ownership file for US companies. State and county court coverage is uneven. Typical turnaround: 2 to 5 working days from a complete data set. - Financial diligencePartial
Bank data through a consent-based aggregator, the accounting ledger with consent, and IRS transcripts where the route is confirmed, all compared to the statements the company supplied. Limits: Business account coverage varies by bank and no federal rule gives a right of access. IRS transcripts run through an approved participant. Private company accounts are not public, so there is no filed-accounts check. Typical turnaround: 2 to 5 working days from a complete data set. - Legal diligence supportPartial
The public record tabulated for counsel: registry status, UCC liens, federal and bankruptcy dockets, sanctions and licences. Limits: State and county court searches vary by jurisdiction and are covered only where the courts publish online. Contract and title review needs the data room. No legal opinion is given. Typical turnaround: 2 to 5 working days from a complete data set. - Promoter profilesPartial
One founder or principal traced through entity records, UCC filings as debtor, federal dockets, bankruptcy, SEC and FINRA records, and sanctions. Limits: Officer records exist in some states only. Use of reports on individuals may bring in the Fair Credit Reporting Act depending on purpose, to be confirmed with local counsel. Personal asset review needs the person's consent. Typical turnaround: 2 to 5 working days from a complete data set.
Not yet available here: IC note (planned); Portfolio monitor (planned); Model check (planned); Valuation context (planned); Rating history (planned); Borrower monitor (planned); Proceeds tracer (planned). See all eleven reports or read the sample report.
Work that needs a licensed professional
- Investment advice or research: A registered investment adviser, with the SEC or a state, engaged separately..
- Audit or attest: A licensed CPA firm, and a PCAOB-registered firm for public issuers..
- Legal opinion: An attorney licensed in the relevant state..
- Bank-data aggregation: A consent-based bank-data aggregator, with the company's consent. Whether Kubr contracts directly or through a partner is to be confirmed..
- IRS transcript requests: An IRS-approved IVES participant, on a signed Form 4506-C..
Kubr is not registered as an investment adviser with the SEC or any state under the Investment Advisers Act of 1940 or state law. It is not a CPA firm, a law firm or a broker-dealer. It gives no investment, legal, tax or audit advice and issues no opinion or rating. Kubr does not hold IRS IVES status. Whether any product touches consumer reporting rules is to be confirmed with local counsel.
Kubr reads public records and data the company chooses to share. Data about individuals is handled under the Gramm-Leach-Bliley Act where it applies and under state privacy laws such as California's. The exact duties by state are to be confirmed with local counsel.
Read next
- Checking a US Private Company: State Registries & UCC
- Private Company Due Diligence: A Records-Based Guide
- Lender’s Checklist: Verifying a Borrower Company
- Kubr casebook: 483 sourced corporate-failure cases, with its methodology and summary counts
Request a quote for a United States company, or browse the services.
Other markets
Kubr is a technology platform, not an adviser, law firm, auditor, rating agency or credit bureau. Reports are for the named client only and are not investment advice, an audit or a legal opinion. Full disclosures. Source data for this page: the Kubr market pack for United States, reviewed 3 November 2026.