FinCEN Announces Registry is Now Open for Business!

By Laurence Donahue | January 1, 2024 |
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Date: 1/1/2024

U.S. Beneficial Ownership Information Registry Now Accepting Reports

Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) began accepting beneficial ownership information reports. The bipartisan Corporate Transparency Act, enacted in 2021 to curb illicit finance, requires many companies doing business in the United States to report information about the individuals who ultimately own or control them.

Filing is simple, secure, and free of charge. Beneficial ownership information reporting is not an annual requirement. A report only needs to be submitted once, unless the filer needs to update or correct information. Companies that are required to comply must file by the following deadlines:

  • Reporting companies created or registered to do business in the United States before January 1, 2024 must file by January 1, 2025.
  • Reporting companies created or registered to do business in the United States in 2024 have 90 calendar days to file after receiving actual or public notice that their company’s creation or registration is effective.

To find out more about the reporting process, visit https://www.fincen.gov/boi.

News Release: https://www.fincen.gov/news/news-releases/us-beneficial-ownership-information-registry-now-accepting-reports

Posted in Announcements

About Laurence Donahue

Larry Donahue is the managing member of Law 4 Small Business (L4SB), a leading law firm in high-tech, small business and Internet law. Mr. Donahue possesses over 30 years of legal experience, with a focus on Internet law, intellectual property, corporate law, and contracts. Mr. Donahue has become the firm's leading attorney on Beneficial Ownership Information reporting compliance.

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