01/08/2024
Do you own or are you a 25% or more owner of an LLC, Partnership, or corporation. Please see this link below.
All beneficial owners of these entities must be reported by 1/1/2025.
"As specified in the Corporate Transparency Act, a person who willfully violates the BOI reporting requirements may be subject to civil penalties of up to $500 for each day that the violation continues. That person may also be subject to criminal penalties of up to two years imprisonment and a fine of up to $10,000. Potential violations include willfully failing to file a beneficial ownership information report, willfully filing false beneficial ownership information, or willfully failing to correct or update previously reported beneficial ownership information."
The reporting is quick and easy, if you need help or have questions please contact us!
315-785-9002
FinCEN has prepared the following Frequently Asked Questions (FAQs) in response to inquiries received relating to the Beneficial Ownership Information Reporting Rule.