11/29/2023
Top 5 things every business owner needs to be aware asap.
1. Beginning January 1, 2024 the Corporate Transparency Act will be implemented by the United States Government through the Financial Crimes Enforcement Network (FinCEN).
2. Most business owners will be required to file a "Beneficial Owner Information" report. There are exceptions, but they are rare.
3. Failure to comply will results in a $500 fine per day that the report is late and up to 2 years in prison.
4. Every business created before January 1, 2024 has 1 year to comply. Every business created on or after January 1, 2024 has 30 days to comply.
5. The portal to file with FinCEN will open on January 1, 2024. They recommend setting aside 1-2 hours to complete the filing questions and information.
Burnett & Associates is prepared to take care of this important filing for you. Contact us now to be added to our list to have your report done accurately and on time.
877.836.9691
www.burnettandassociates.com
