Beneficial Ownership InformationA new reporting requirement for business owners

Young Asian businessman working with piles of papers on the desk of financial business ideas.

If you are business owner, you should know about this new reporting requirement

Many companies are required to report information to the U.S. government about who ultimately owns and controls them. Those required must submit a beneficial ownership information (BOI) report to the Financial Crimes Enforcement Network (FinCEN), a branch of the U.S. Department of the Treasury.

Important Dates to Know

If your company was created or registered prior to January 1, 2024, you will have until January 1, 2025 to report BOI.
If your company is created or registered in 2024, you must report BOI within 90 calendar days after receiving actual or public notice that your company’s creation or registration is effective, whichever is earlier.
If your company is created or registered on or after January 1, 2025, you must file BOI within 30 calendar days after receiving actual or public notice that its creation or registration is effective.

For the most accurate, detailed, and up-to-date information regarding Business Ownership Information filing, visit the official website of the Financial Crimes Enforcement Network (FinCEN) at https://www.fincen.gov/boi. FinCEN is the authoritative source for all matters related to Business Information Ownership and is continually updated to reflect the latest regulations and requirements.