BOI

We have heard from a few of our clients regarding the new Beneficial Ownership Information (BOI) reporting requirement. Although we do not provide this service, we thought it might be helpful to provide our clients with some information.

BOI reporting is a requirement for any entity registered with the Secretary of State or similar office under the law of a state. This means all Corporations, LLCs (including Single Member LLCs) & LPs are required to report specified information about certain owner and officers to the US Treasury Department’s Financial Crimes Enforcement.

If you have not already looked at their website to see if you will need to file and prepare, please visit:

www.fincen.gov/boi

Their website is very comprehensive. 

Entities in existence prior to January 1, 2024, are required to file their reports before January 1, 2025.

Again, this is not a service we provide, but their website is very comprehensive and helpful!

 

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