Beneficial Ownership Information Report

Beginning January 1, 2024, most entities are required to file the Beneficial Ownership Information Report (BOI). This is a new reporting requirement issued by FinCEN, which is the Financial Crimes Enforcement Network. The purpose of this new report is to help catch money laundering and other criminal activity. This report is not filed with your tax return. Due to uncertainty as to whether CPAs are allowed to file this report or not, we will not be filing this report on behalf of clients. Lawyers, on the other hand, are allowed to file these reports. Therefore, we are pleased to announce that we have partnered with KKOS lawyers to file these reports for any of our clients who may need it. KKOS Lawyers charges $199. This not only includes the BOI report, but they will also help you with your company minutes and state renewals.

Report Due Dates: If your company existed and was registered with your state before Jan. 1, 2024, you have until Dec. 31, 2024 to file your report. If your company began to exist on Jan. 1, 2024 or after, you are required to file the report within 90 days of your company’s state registration. If your company began to exist on Jan. 1, 2025 or after, you are required to file the report within 30 days of your company’s state registration. Additionally, if you have any changes in ownership, you must file an updated report within 30 days of the ownership change. Penalties for filing the report late are $591 per day up to $10,000 and 2 years in prison.

To have your report filed by KKOS Lawyers, please click the link here: KKOS Lawyers

To file the report on your own, click the link here: FinCEN

Please contact our office if you have any questions regarding this report.