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New Beneficial Ownership Information Reporting requirement for most businesses begins Jan. 1, 2024
Written on Aug 18, 2023
Beginning on Jan. 1, 2024, many corporations, limited liability companies and other entities created or registered to do business in the United States must report information about their beneficial owners—the persons who ultimately own or control the company—to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).
The final rule implementing the beneficial ownership information reporting requirements of the Corporate Transparency Act (CTA) was issued in September 2022.
FinCEN.gov/BOI provides guidance to help the small business community understand these requirements and includes:
Answers to Frequently Asked Questions
Infographics about Key Filing Dates and Key Questions
An Introductory Video and more detailed Informational Video
Beneficial ownership information will not be accepted prior to Jan. 1, 2024.
Contact FinCEN for more information.