BOI Now Due 1/13/2024!

Fines up to $10,000, and a civil penalty of $500 per day

Author

Aaron Stegner
December 24, 2024

The filing of the BOI report is essential to ensure compliance with the Corporate Transparency Act (CTA) and to avoid any potential penalties. The CTA created a requirement to disclose who owns all entities. Think LLCs, Corporations, Partnerships etc.

The filing penalties were on hold due to an injunction but this was overturned on December 23, 2024. Filing is now due by January 13, 2025!

Failure to comply could lead to criminal penalties of imprisonment for up to two years and/or a fine of up to $10,000, and a civil penalty of $500 per day. We do not provide this service, and you need to reach out to your attorney or online filing companies for assistance.

For more information visit the Financial Crimes Enforcement Network (FinCEN). https://www.fincen.gov/boi

We are offering this reminder as a courtesy and will not be able to assist you with filing.

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The information provided here is for informational purposes only and should not be construed as or relied upon for tax or legal advice. This information is based on the laws and regulations in effect at the time of issuance, and we do not undertake any obligation to update this information after the date of its release. Please speak with your tax professional or attorney for guidance specific to your circumstances.