2024 News
Beneficial Ownership Information
BOI Reporting Requirement: The Corporate Transparency Act (CTA) mandates that certain legal entities report their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). This requirement is designed to enhance transparency and combat financial crimes.
Changes in Information: Any changes to your company's information, beneficial owners, or their details must be reported to FinCEN. This includes changes in names, addresses, or unique identifying numbers.
Penalties for Non-Compliance: Failure to file or provide accurate information can result in penalties. It is crucial to stay up-to-date with your reporting obligations to avoid any potential fines.
Beware of Scams: Please be cautious of unsolicited communications offering assistance with BOI reports. While there are legitimate service providers, there are also fraudulent actors looking to exploit the new regulations.
