11/09/2024
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You NEED to read this if you're a business owner in the U.S.
If you haven't already heard about the new BOI reporting requirements, buckle up!
As part of the Corporate Transparency Act, many businesses (LLCs, corporations, and other similar entities created by filing a document with a secretary of state or equivalent office) now need to file a Beneficial Ownership Information report.
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When do you need to file by?
Your deadline is based on when your business was formed.
For businesses formed BEFORE 2024, you have until the end of this year to file.
For businesses formed in 2024, you have 90 days after your business's registration to file.
Moving forward, businesses formed in 2025 and on will have 30 days from their registration to file.
Here's the good news: you can file your BOI report for free, on your own, and it should only take about 15 minutes! β
Visit www.fincen.gov/boi for more information!