Effective January 1, 2024, certain businesses must report their beneficial ownership information (BOI) to FinCEN. Initial reports are due by January 1, 2025, with updates required within 30 days of any changes. New entities formed after January 1, 2024, must file within 90 days.
This reporting requirement applies to all Corporate (S Corp and C Corp), Partnerships, LLP, and LLC entity types established and registered with a state agency (There a few very rare exceptions that likely do not apply to you). This includes all LLCs operating as businesses or holding title to real estate or other investments.
Visit the FinCEN websitehttps://boiefiling.fincen.gov/fileboirfor more details and to set up your FinCEN ID. We’re here to help with any questions you have.