The deadline to file your beneficial ownership information report (“BOI Report”), January 1, 2025 (or, if your company was created this year, within 90 days of creating this entity), is fast approaching.
Pursuant to the Corporate Transparency Act 2024, all companies created or registered in the U.S. must file their BOI Report with the Financial Crimes Enforcement Network (“FinCEN”), unless they fit under one of its limited exemptions. Failure to submit your BOI Report may result in civil fines of $500 per day of non-compliance and criminal penalties of up to a $10,000 fine and/or 2 years in jail.
If you would like for Nilson law to assist you with the creation of your BOI Report, or to see if your company falls under an exemption, please contact us without delay at compliance@nilsonlaw.com. We offer a flat fee to help you identify your beneficial owners, and to prepare and file your BOI Report with FinCEN.
To ensure timely compliance with the mandatory requirements of the CTA, we strongly encourage you to contact us early to avoid any technical issues due to a higher volume of filings towards the end of the year.
