Guess Who’s Back? Businesses Must Resume Reporting Beneficial Ownership to FinCEN.
ATTENTION BUSINESS OWNERS:
Following a December 23, 2024, federal appeals court decision, the Corporate Transparency Act (CTA) is back in effect!!!
Most businesses are now required to file their Beneficial Ownership Information (BOI) with FinCEN.
Key Deadlines:
- Companies created before January 1, 2024: File by January 13, 2025.
- Companies created between September 4, 2024, and December 23, 2024: Deadlines extended; most must file by January 13, 2025 or 21 days from their original filing deadline.
- Companies created on or after January 1, 2025: File within 30 days of formation or registration.
Some companies may qualify for disaster relief or special exemptions.
Action Required: Don’t wait—ensure your compliance. Consult with your business lawyer so you’re prepared for any updates and to avoid penalties.
To learn more or voluntarily submit your BOI, visit the FinCEN website by clicking here or on YouTube here: Financial Crimes Enforcement Network (FinCEN) – YouTube.
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