End-of-Year BOI Reporting Reminder

The Corporate Transparency Act (CTA), enacted to enhance transparency and fight illicit financial activities, introduces a significant new reporting requirement for many companies. By January 1, 2025, most businesses in the U.S. will be required to submit a Beneficial Ownership Information (BOI) report. This report serves as a way for the government to identify individuals who have significant ownership or control over a company, providing key details such as the owner’s full name, current residential address, and a valid identification number.

The new requirement aims to increase corporate transparency and prevent the misuse of entities for illegal purposes like money laundering and fraud. If your company falls under this mandate, it’s essential to understand how the CTA may impact your reporting obligations and ensure your BOI report is submitted accurately and on time.

Swipe left to discover more about the BOI reporting requirements, including who needs to file and what exemptions may apply.

If you’re uncertain about whether your business qualifies for an exemption, or if you’re feeling unsure about how to correctly file your BOI report, don’t worry—our expert team is here to help. We’ll walk you through every step of the process, making sure you stay compliant with this new federal requirement.

Reach out to us today for professional guidance and support in navigating the CTA and BOI reporting process!