Beneficial Ownership Reporting
Background:
Here is information links to help you file your beneficial reporting under the Corporate Transparency Act (CTA) that requires businesses to register with the US Treasury Department, under the “pretense” of preventing money laundering.
Deadlines: Business that started before January 1, 2024, you will need to complete the registration by December 31, 2024. Those established in 2024, will have 90 days to file. Businesses that began before 2024, and are closed in 2024, also need to register by December 31, 2024. Businesses started after December 31, 2024, will need to file within 30 of being registered with the Secretary of State.
I have linked below information to assist meeting this requirement. Please review and act on filing your report.
- You can file directly on the Financial Crime Enforcement Network (FinCEN) website,
- You can file through your attorney,
- Hire a bureau service, like LegalZoom.
Note: As this report filing is considered “Legal Services”, I will be unable to assist you. My job here is to let you know about this new requirement.
Links:
What is Beneficial Ownership Reporting and why does my company need to comply? Here is background information on the why and process.
Filing the form:
YouTube(c) links for how-to-videos:
Guide to the New Beneficial Ownership Information (BOI) Report https://youtu.be/ey34kQ1Vg1E?si=pB5d7gaOSUtyuvfE
BOI Reporting for Small Business Owners - Step-by-Step DIY Guide https://youtu.be/wrrbNsJvrqo?si=ZF673XGE2CCBkxDK
FinCen - Welcome to the BOI E-Filing System: Use this site to self-file your company electronically. No cost to file. https://fincen.gov/boi
Services that will file for your company for a fee:
Tax1099.com https://www.tax1099.com/efile-boi-reporting-online Watch the "How to File" video. Fee $45
LegalZoom.com https://www.legalzoom.com/business/business-operations/beneficial-ownership-information-report.html Plans start at $149.