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Stay in compliance and avoid $500/day fines.

New Federal Law Reporting for LLCs and Corporations

Are you a small business, freelancer, or entrepreneur with 25% or more interest in an LLC or Corporation?

As of January 1, 2024, the federal Corporate Transparency Act (CTA) mandates that millions of US small business owners file a Beneficial Ownership Information Report with The Financial Crimes Enforcement Network (FinCEN).

If you formed a new LLC or corporation this year, you must file the report within 90 days from the date of formation.

 

If your LLC was formed before 2024, you have until January 2025 to file the report.

 

Failure to file a Beneficial Ownership Report with the Financial Crimes Enforcement Network (FinCEN) could result in severe penalties.

A person who willfully violates the Beneficial Ownership reporting requirements may be subject to criminal penalties of up to two years imprisonment and a fine of up to $10,000.

You can file this report for free through the FinCEN.gov website, or if you want to skip the paperwork, you can hire us to assist you with your filing.

Visit FinCEN’s BOI E-Filing website (https://boiefiling.fincen.gov) and select “File BOIR.”

DISCLAIMER: Paralegal Document Preparer is NOT an ATTORNEY and is prohibited from giving legal advice, explanation, opinion, or recommendation about possible legal rights, remedies, defenses, strategies, or options that an individual may have.

 

PRIVACY POLICY: All information received from a client is strictly confidential and is required on this questionnaire for the sole purpose of preparing documents. Our office takes every step possible to protect your privacy. The data submitted via this form is encrypted and secured using industry-standard 128-bit SSL encryption. It would only become privy to a third party if it is subpoenaed.

Email: info@Paralegaldocprep.com

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