Posted by Thor Roundy | Nov 04, 2024 |
Corporate Transparency Act: What it is and Steps to Take.
With the end of 2024 fast approaching, the deadline to file your company’s Beneficial Ownership Information (BOI) report is almost here. Under the Corporate Transparency Act (CTA), if your business was:
- Formed before 2024, you have until January 1, 2025, to file your BOI report with FinCEN
- Formed during 2024, you must file your BOI report within 90 days of formation
These requirements apply to virtually all businesses, particularly small businesses. Importantly, failing to comply with the CTA can result in fines up to $10,000 or criminal prosecution. For more information on who a beneficial owner is, which businesses the CTA applies to, and how to get a FinCEN ID number, contact us today!
EVN Law LLC can assist you with registration and ongoing compliance required under the CTA. We have developed a simple process and our dedicated team is here to assist you in compliance and maintenance. To engage EVN Law to assist in compliance, please reach out to me, Thor Roundy, contact our CTA team directly at (801) 852-2333, or send an email to [email protected].
We look forward to assisting you and your business with its CTA compliance.