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The Corporate Transparency Act went into effect on Many small businesses are required to file Beneficial Ownership Information (BOI) reports with FinCEN. |
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What is the Beneficial Ownership Information report & the Corporate Transparency Act?
BOI reporting is part of the Corporate Transparency Act that Congress passed in 2021 to crack down on money laundering, financing of terrorism, tax fraud and other illegal acts. The BOI report will contain personal identifying information about a company's beneficial owners that will be filed with FinCEN - the U.S. Department of Treasury's Financial Crimes Enforcement network.
How do I file my BOI report?
Filing your BOI report directly with FinCEN is free of charge. You can find out more information on their website.
