What is a Beneficial Ownership Information Report (BOIR)?

As of January 1st, 2024,

Owners of U.S. businesses were required to comply with new rules set out by "The Corporate Transparency Act (CTA)". The CTA was a federal law that required business entities to report details about their ownership to the Financial Crimes Enforcement Network (FinCEN). Failure to file your BOIR before the deadline would have result in penalties of up to $500 per day.

The law was recently overturned.

If this could affect your business, be sure to stay up-to-date.

See here for more information: fincen.gov