engaged in active business or holding any assets. 31 C.F.R. 1010.380(c)(2)(xxiii).6 Large operating companies must employ more than 20 full-time employees, have an operating presence at a physical office in the U.S. (not shared with any unrelated entity), and must have reported more than $5 million in gross receipts (or gross sales) on their most recently filed tax return. 31 C.F.R. 1010.380(c)(2)(xxi).7See generally 31 U.S.C. section 5336(a)(11)(B) and 31 C.F.R. 1010.380(c)(2).8 31 C.F.R. 1010.380(b)(1)(i).9 31 U.S.C. section 5336(b)(2)(A).10 31 U.S.C. section 5336(b)(3).11 31 C.F.R. 1010.380(d).12 31 C.F.R. 1010.380(d)(1)(ii).13 31 C.F.R. 1010.380(d)(1)(i).14 31 C.F.R. 1010.380(d)(2).15 31 C.F.R. 1010.380(d)(2)(ii)(C).16 31 C.F.R. 1010.380(e)(2).17 31 C.F.R. 1010.380(b)(2)(iv).18 31 C.F.R. 1010.380(a)(1)19 31 C.F.R. 1010.380(a)(2)-(3).20 31 U.S.C. section 5336(h).21 31 U.S.C. section 5336(c)(6).22 31 U.S.C. section 5336(c)(2).23 31 U.S.C. section 5336(c)(5).24 88 Fed. Reg. 2760 and 88 Fed. Reg. 2764 (both published January 17, 2023).