IRS offering virtual information session on BOI reporting requirements

A new law requires many companies doing business in the United States to report information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) about who ultimately owns or controls them. Join a FinCEN representative on April 30 at 2pm for a virtual information session on beneficial ownership information reporting requirements and how to comply with the law.

Click here to learn more about beneficial ownership information reporting.

Companies created or registered in early 2024 may have an approaching deadline for a new federal government filing requirement. The Corporate Transparency Act, a bipartisan law that was passed to combat and stop illicit finance, requires many companies doing business in the United States to report information to FinCEN about who ultimately owns or controls them. 

Federal regulations require certain companies (reporting companies) to file their initial reports by the following deadlines: 

• Existing companies: Reporting companies created or registered to do business in the United States before Jan. 1, 2024, must file by Jan. 1, 2025. 

• Newly created or registered companies: Reporting companies created or registered to do business in the United States in 2024 have 90 calendar days to file after receiving actual or public notice that their company’s creation or registration is effective.