BENEFICIAL OWNERSHIP
REPORT SERVICES

Our services include: Advising On Entity Reporting Obligations • FinCEN BOI Reporting

Effective January 1, 2024, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) requires many corporations, LLC’s, and other entity structures formed under the laws of any state or tribal jurisdiction of the United States to report on certain beneficial ownership information (BOI)—i.e., the individuals who ultimately own and control them. The scope of the reporting requirement also generally applies to foreign entities that are registered with any state or tribal jurisdiction of the United States. FinCEN’s BOI Reporting Rule as its called, implements the Corporate Transparency Act (CTA) of 2002.

We have detailed the far reaching implications of this new BOI Reporting Rule in a firm article , including the following reporting deadlines that entity’s should consider for filing an initial report with FinCEN:

• If created or registered to do business prior to January 1, 2024, then prior to January 1, 2025.
• If created or registered to do business on or after January 1, 2024, but before January 1, 2025, then 90 calendar days after receiving actual notice that the company’s creation or registration is effective, or after a secretary of state or similar office first provides public notice of its creation or registration, whichever is earlier.
• If created or registered on or after January 1, 2025, then 30 calendar days after receiving actual notice that the company’s creation or registration is effective, or after a secretary of state or similar office first provides public notice of its creation or registration, whichever is earlier.

Our firm assists clients in fulfilling their reporting requirements to ensure compliance with FinCEN’s BOI Reporting Rule.