Effective January 1, 2024, New Federal Beneficial Owner Report Requirements
Reporting of Beneficial Ownership Information to the Financial Crimes Enforcement Network (FinCEN)
Beginning January 1, 2024, certain types of corporations, limited liability companies, and other similar entities created in or registered to do business in the United States must report information about their beneficial owners—the persons who ultimately own or control the company—to the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Additional information about the reporting requirements, including answers to questions such as “is my company required to report beneficial ownership information to FinCEN,” “who is a beneficial owner,” and “when do I need to report my company’s beneficial ownership information" is available on FinCEN’s beneficial ownership information webpage, FinCEN.gov/BOI. You can also subscribe to FinCEN Updates for future guidance documents.
BOI e-Filing Alert: In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports. More information is available on our website.
* This information is not reported to the Secretary of State
Reporting companies will report beneficial ownership through FinCEN’s website. The report is not available for reporting until after 1/1/2024.
Most corporations, LLCs, and other businesses formed by filing a document with a Secretary of State’s office in the United States. 23 types of entities are exempt from the reporting requirement. View FinCEN’s FAQs to learn more.
If your company was created or registered prior to 1/1/2024, you have until 1/1/2025 to report.
Companies created on or after 1/1/2024 (1/1/2024 - 12/31/2024) must report within 90 days.
Companies created on or after 1/1/2025 must report within 30 days.
Please contact FinCEN for the most up to date information and answers to your questions.
https://www.fincen.gov/contact
Email address is FRC@fincen.gov
Phone number: 1-800-767-2825
- Introductory Brochure:
https://www.fincen.gov/sites/default/files/shared/BOI_FinCEN_Brochure_508C.pdf
- FAQs:
https://www.fincen.gov/boi-faqs
- Small Entity Compliance Guide:
https://www.fincen.gov/boi/small-entity-compliance-guide
- Beneficial Ownership Information Reporting Key Questions:
https://www.fincen.gov/boi/quick-reference
