We are writing to inform you of the new FinCEN Beneficial Ownership Information (BOI) filing requirement. Effective January 1, 2024, all U.S. businesses must now file BOI reports as part of a government mandate under the Corporate Transparency Act in order to combat financial crimes. You may consult the website boiefiling.fincen.gov for additional details. The deadline for the filing is December 31, 2024 for companies formed prior to 2024 and 90 days after formation for new companies formed in 2024. The willful failure to report complete or updated beneficial ownership information to FinCEN may result in a civil or criminal penalties, including civil penalties of up to $500 for each day.
In order to submit your BOI filing, please go to https://boiefiling.fincen.gov/fileboir and select ‘File Online BOIR’. The submission requires you to upload the driver’s license or other identification for each beneficial owner of the business. The entire process should take between 10 to 30 minutes depending on the number of owners. After consulting with our professional resources, our office has determined that we cannot directly prepare this report on your behalf because it is considered practice of law, and is outside the scope of accounting services. However, we are happy to assist you in navigating the submission process, as we are familiar with the website.
If you have questions during the submission process, please call our office at 410-893-2083 to speak with one of our staff members. If you require full-service assistance then we recommend that you contact either legal counsel or a BOI filing specialist. We appreciate your prompt attention to this matter and look forward to assisting you in staying informed about ongoing compliance requirements.
Application Link - https://boiefiling.fincen.gov/boir/html
YouTube Link - https://www.youtube.com/watch?v=GydCvfbKxPw
