As 2024 Comes to a Close, Don’t Miss Your BOI Filing Deadline!

With the end of the year fast approaching, it’s time to ensure your business is on track with the latest compliance requirements. If your entity was formed or registered in the United States before January 1, 2024, you are required to submit a Beneficial Ownership Information (BOI) report to the Financial Crimes Enforcement Network (FinCEN) by December 31, 2024.

What Is the Corporate Transparency Act (CTA)?

The CTA is a federal regulation designed to increase transparency and combat financial crimes. It requires businesses to disclose information about individuals who have substantial ownership or control of the entity.

Key Filing Requirements:

  • Who Must File: Corporations, LLCs, and other legal entities formed before January 1, 2024.
  • What to Include: You’ll need to submit the following details for each beneficial owner:
    • Full legal name
    • Date of birth
    • Residential address
    • Government-issued ID

Filing Platform and Additional Resources

If you’re interested in handling your BOI filings yourself, you can do so through the official FinCEN platform by clicking here. Alternatively, Bowery Legal is happy to manage the filings on your behalf or answer any questions you may have. Just let us know how we can assist! For further information, you can also check out the FinCEN BOI Frequently Asked Questions page for more guidance.

Why Is This Important?

Failure to submit your BOI report by the December 31, 2024 deadline could result in fines and penalties. By filing on time, your business stays in good standing and avoids any unnecessary legal issues.

Stay Compliant & Avoid Penalties!

Make sure your business is prepared—review your records and file your BOI report on time. We’ll be sending out reminders as the deadline approaches, so keep an eye on your inbox for updates.

Need Help?

If you have any questions on the  new BOI filing requirements or would like us to assist with BOI filings for your company, please feel free to reach out to Eric Broad (eric@bowerylegal.com) or contact any member of the Bowery Legal team. We’re here to help!

Thank you for trusting us with your compliance needs!