Does the Corporate Transparency Act requirements for Beneficial Ownership reporting affect you?
If you are a business owner, the new requirements of the Corporate Transparency Act probably affect you!
Beginning January 1, 2024, most businesses are required to disclose information about beneficial ownership. Beneficial ownership information refers to identifying information about the individuals who directly or indirectly own or control a company. Businesses formed prior to January 1, 2024, can begin reporting beneficial ownership Information on January 1, 2024, and have until January 1, 2025 to do so. There is no cost to report, and reporting must be done at the following website: www.fincen.gov/boi. For more detailed information about beneficial ownership reporting, you can visit: https://www.fincen.gov/boi-faqs#B_1. The process is relatively simple and takes about 10 minutes but if you need help with reporting, you can talk to your accountant or attorney.
For help with starting a new business or filing you Beneficial Ownership Information report on an existing business, contact the Law Office of Roy Neal Linnartz, PLLC at 830-625-9300.