FinCEN BOI

FinCEN - Beneficial Ownership Information (BOI)

In 2021, Congress passed the Corporate Transparency Act on a bipartisan basis. This law creates a new beneficial ownership information reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures.

Beginning on January 13, 2025, many companies in the United States will have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company. They will have to report the information to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury.

Below are some helpful resources for our small business customers

Main FinCEN BOI Site
https://fincen.gov/boi

Resources
https://fincen.gov/boi/quick-reference - Quick Reference Guide
https://fincen.gov/boi/small-entity-compliance-guide - Small Entity Compliance Guide
https://fincen.gov/boi-faqs - Frequently Asked Qustions (FAQs)