Blog

If you aren't familiar with the new Beneficial Owner Information ("BOI") reporting requirements, now is the time to get familiar. 2024 is year one of a new non-tax filing requirement, and the non-compliance penalties are hefty. Here is our first post on all things BOI from last fall. Since then, the topic has received some clarifying guidance and additional answers to new FAQ from FinCEN. Below ...

Corporate Transparency Act and Beneficial Ownership Information Reporting Requirement The Corporate Transparency Act (CTA) was passed in 2021 under the National Defense Act in an effort to reduce money laundering and other financial crimes. It requires most small businesses to provide information about owners and decision makers (i.e. “Beneficial Ownership Information” (BOI)) to the ...