October 18, 2024 Miracles Do Exist – Easing the Pain of a Corporate Transparency Act Filing
Filings Due January 1, 2025 In October 2023, we warned our readers of a new nightmare – beneficial ownership information ( BOI ) reporting under the Corporate Transparency Act ( CTA ). (Original article can be found here .) As the January 1, 2025 filing deadline approaches for entities formed before this year, we wanted to give you the benefit of our experience with preparing and filing BOI reports. Over the past 12 months we got our own unique identifier numbers (more on that below) from the Treasury’s Financial Crimes Enforcement Network ( FinCEN website); delved into plenty of organizational charts; and helped clients file many BOI reports. We discovered that the FinCEN web site ( https://fincen.gov/boi ) works well and is simple to navigate. From the landing page, you can link to FinCEN’s FAQs (which are always being expanded) and educational materials; the application for a unique identifier number; or the portal for filing the actual BOI report. But we have heard from ...