SINCE 1974
What are Beneficial Ownership Information Reporting Requirements? Starting from January 1st, 2024, both new and existing business entities must file Beneficial Ownership Information (BOI) reports with FinCEN. This includes most LLCs and corporations formed in the U.S. These reporting requirements were introduced as part of the Corporate Transparency Act, a federal law that combats illegal […]
Continue Reading
What is the Purpose of FinCEN? The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury. FinCEN’s core mission is to fight financial crimes, like money laundering and terrorism financing. FinCEN works closely with banks and other financial institutions to scrutinize financial transactions and prevent illegal activity. […]
Continue Reading
Starting January 1st, 2024, owners of U.S. businesses will need to comply with new rules. The Corporate Transparency Act (CTA) is a federal law that requires business entities, like LLCs and corporations, to report information about their owners to the Financial Crimes Enforcement Network (FinCEN). These new reports are called “Beneficial Ownership Information Reports”. Honest […]
Continue Reading