How to file your BOI report with FinCEN

‼️FOUNDERS‼️ BOI REPORTING Deadline Approaching 98% of all businesses in the US are required to submit a Beneficial Ownership Interest (BOI) Report to the Financial Crimes Enforcement Network (FinCEN) by 12/31/2024. This requirement went into effect on January 1 of this year under the Corporate Transparency Act. The Corporate Transparency Act or CTA requires certain types of US and foreign entities to report beneficial ownership information to the Financial Crimes Enforcement Network, a bureau of the US Department of Treasury. Unless you have a complex ownership structure, you should be able to file this report online less than 10 minutes. In this video, here’s what I know … #BOIFiling #Founders #smallbusiness #FinCEN

Beneficial Ownership Information (BOI) - another update On December 23, 2024, the Fifth Circuit Court of Appeals issued a stay on the district court’s nationwide injunction against the Corporate Transparency Act (CTA). This stay reinstated the BOI reporting requirements and prior deadlines. The court found that the government is likely to succeed on appeal, citing Congress’s authority under the Commerce Clause and the critical need for corporate transparency to combat financial crimes like money laundering and terrorism financing. Shortly thereafter, the US Department of Treasury extended BOI filing deadlines. For most entities, the new deadline is now January 13, 2025. For more information, refer to FinCEN's website at https://bit.ly/4fMBrSd

Do you have an LLC or Corporation? If you own a business, including LLCs, corporations, or similar entities, you must report the Beneficial Ownership Information (BOI) with the U.S. Department of Treasury's Financial Crimes Enforcement Network (FinCEN) by December 31, 2024. This report is filed on the BOI E-Filing System at BOI E-FILING (fincen.gov). Here is a helpful guide on this filing (if you have questions - give us a call): https://lnkd.in/gFnFmEVd #vgi #vincentgroupinc #FinCENCompliance #FinCEN

Attention Business Owners: Don’t Overlook BOI Reporting! Beneficial Ownership Information (BOI) reporting requires companies to disclose details about individuals with significant control or ownership. This important measure helps authorities curb illegal activities like money laundering and tax evasion. 🚨 Key Deadlines to Remember Missing these deadlines can lead to serious penalties—ensure you stay compliant! The BOI report can be filed electronically with the Financial Crimes Enforcement Network (FinCEN) at boiefiling.fincen.gov. Got questions? Drop them in the comments—we’re here to help you navigate BOI reporting with confidence! 🗂️ Save this post for future reference.

Compliance weighs on the day-to-day of treasurers ✍️ Discover the point of view of Stéphane Nénez and Mathieu Cascallana, Partners at EIGHT ADVISORY, in an article published in L'AGEFI on the impact of regulatory requirements on treasurers. To read more 👉 https://lnkd.in/ett88agp Full version of the article on L’Agefi (French) 👉 https://lnkd.in/euX9TnCV #KYC #RollingForecast #ValueCreation #ActingLocally #ReachingGlobally

Do you know about the new BOI reporting that must be completed by 1/1/25 for certain existing businesses and within 90 days of starting a new business in 2024? Effective January 1, 2025, businesses may be required to disclose information regarding their beneficial owners to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). This requirement is being implemented under the beneficial ownership information (BOI) reporting provisions of the Corporate Transparency Act (CTA) passed by Congress in 2021. Complying is a very simple process and can be completed by visiting https://lnkd.in/e4zShHzk  You must report information for each shareholder.

US, OCC - Financial Data Transparency Act of 2022: Notice of Proposed Rulemaking On August 22, 2024, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the Commodity Futures Trading Commission, the Securities and Exchange Commission, and the Department of Treasury (collectively, the agencies) published in the Federal Register a joint notice of proposed rulemaking to implement the Financial Data Transparency Act of 2022 (FDTA). Pursuant to the FDTA, the agencies jointly propose to establish joint data standards for (1) certain collections of information reported to each agency by financial entities under the agency’s jurisdiction, and (2) the data collected from the agencies on behalf of the FSOC. The FDTA requires the joint data standards to include common identifiers, including a common non-proprietary legal entity identifier (LEI) that is available under an open license for all entities required to report to the agencies. Reg-Intel illumini.ai https://lnkd.in/eVCMUehB #USA #OCC #Regchange #Compliance #Legal #Reporting #Risk

Watch this video on Financial Institutions as defined by the Financial Action Task Force (FATF). Be sure to subscribe to the Global Business Channel for more videos on offshore global business, finance, banking, compliance, and legal sectors. https://lnkd.in/dCahK7Tu

REMINDER: Do not forget to complete BOI filings. Effective January 1, 2024, all US and foreign companies that were formed in, or have registered with any of the 50 US states, must comply with new Beneficial Ownership Information (BOI) reporting requirements with the Financial Crimes Enforcement Network (FinCEN), as prescribed by the Corporate Transparency Act (CTA.)

Phase 2: What is BOI Filing? 🔍 What exactly is BOI Filing? BOI, or Beneficial Ownership Information, is a report every business must file with the Financial Crimes Enforcement Network (FinCEN). It reveals the beneficial owners of the company – those who have ultimate control or ownership. This requirement goes into effect January 1, 2024, and is designed to combat financial crimes and increase business transparency. Wondering if your business is impacted? Follow along! #Transparency #Compliance #FinCEN #CorporateGovernance