Understanding the Corporate Transparency Act and Beneficial Ownership Information Reporting

In this episode, we talk about the Corporate Transparency Act (CTA) and the Beneficial Ownership Information (BOI) Reporting.

We’ll highlight the challenges of BOI reporting: complexity, lack of awareness, and severe penalties for non-compliance. Despite FinCEN's efforts to educate businesses, compliance remains low. 

Check out my blog post HERE that is a good summary of the reporting requirements.

Small business owners should act promptly to avoid fines.

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