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Today Erica talks about the brand new Beneficial Ownership Information (BOI) reporting law, which went into effect on January 1, 2024. Geared toward small business owners, consultants, and agency owners, this law mandates reporting to the Financial Crimes Enforcement Network (FinCEN), a branch of the U.S. Department of Treasury.

Inside, you'll find the answers to such questions as:

• What is the Corporate Transparency Act?

• Who is exempt from these requirements?

• Can I file my BOI report myself, or do I need a professional?

• What information do I need to file my business's report?

• What are the deadlines for filing?

If you haven't filed this yet, listen to the Bonus episode: Live BOI Application Walkthrough, where Erica walks you through the process as she completes it for her own business.

 

Important links mentioned in this episode:

• Link to BOI Reporting | https://www.fincen.gov/boi

• BOI Brochure | https://www.fincen.gov/sites/default/files/shared/BOI-Informational-Brochure-April-2024.pdf

• Exemption from Reporting | https://www.fincen.gov/boi-faqs#C_2

 

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