In 20+ states, only the Organizer is listed in public records. The organizer is nothing more than the person who officially registers the LLC with the state, and doesn't need to be the owner, or even an employee of the LLC, they simply need to be authorized to act on behalf of the LLC. This could be a lawyer, the LLC's secretary, a friend, or some random bum you found on the street and paid them with a handle of Jack Daniels so that they would walk inside and hand the registrar some paperwork that you had filled out. The actual Operating Agreement which would list all of the members/owners of the LLC is not required to be filed with the state.

Even if you lived in one of the states that does require the owner to be listed on the documents, its easy enough to use any number of techniques to hide your identity. Set up a daisy chain of ownership, such that your XYZ company lists ABC company as the parent company, and ABC is registered in a state such as Nevada which doesn't require ownership disclosure. Or create an anonymous trust and list the trust as the owner of the LLC. There's dozens of ways to structure your overall company so as to never disclose your real name. I would argue that if your name appears anywhere on public records as an owner that you have failed, and are creating unnecessary risk for yourself as privacy alone can mitigate an enormous amount of risk.

Secondly, while Square does ask for information such as the businesses EIN number, not once does it ask who the ultimate owner of the company is. It asks for the full legal name of the person registering the square account, but nowhere does it say that the person registering the Square account must be the same as the person who is the primary owner of the business. My secretary can fill that out just as easily as i could. How many CEO's of companies do you think would actually take the time to fill this kind of paperwork out themselves? I'm guessing not many.

"Federal law requires that all financial institutions verify and record information that identifies each person who opens an account." Notice it doesn't say they need to verify the information of the business owner, just of the person who opens the square account. You may argue that the person who opens the square account should be the same as the owner of the company, and I would equally argue that it doesn't need to be the same and if it did need to be the same, the verbiage Square used during the account creation process would be much more precise and explicitly ask for the business owners information as opposed to the information of the person who opens an account. When it comes to the law and legal practices, there is no such thing as implied, it is either expressly stated or it does not exist. But for funsies if you wanted to make that argument that the owner of the business must be the same as the owner of the square account, how do you account for partnerships where there is multiple business owners? Square only lets you input one persons information for verification purposes as the account owner. Additionally Square does not allow for the transfer of the ownership of the square account from one person to another, yet businesses can be bought and sold regularly, further implying that the two do not need to be the same. The only way to update ownership information in Square would be to create an entirely new account as ownership of the square account is simply designated to whoever originally signed up for the account.