Beneficial Ownership Information (BOI) Reporting

If your business is a “reporting company” and is not exempt, you have to provide information about beneficial owners (those with certain ownership interests or substantial control) at the FinCEN portal for BOI E-Filing. There’s a small entity compliance guide and FAQs to help you determine your reporting obligation (and see a blog on this matter). Reporting for new businesses in 2024 must be done within 90 days; existing reporting companies have all of 2024 to report. #IdeaoftheDay

Be sure to check out today’s new blog post!