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.

Advising On Entity Reporting Obligations

FinCEN’s BOI Reporting Rule requires any entity that qualifies as a “reporting company” to file initial reports with the agency, subject to various exemptions. The initial report must disclose certain identifying details for every individual that qualifies as a “beneficial owner” of the entity, and a “company applicant” in certain circumstances. We advise domestic and foreign client entity’s on their reporting obligations under FinCEN’s BOI Reporting Rule, especially those with complex organizational structures.

FinCEN BOI Reporting

We assist clients in filing their initial reports, and making relevant updates or corrections to any previously filed reports, to ensure compliance with FinCEN’s BOI Reporting Rule. 

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