New Federal Reporting Compliance Reminder for Small Business Owners

A new federal reporting requirement went into effect 1.1.24 that applies to most small businesses.  For companies formed prior to 2024, the deadline to file online the required Business Owner Information (BOI) report is 12.31.24, so there is plenty of time to file.  Attached is an article summarizing the new requirement and includes the link to the site for the online filing.  Also attached is a guide to obtain a FinCEN Identifier number which is a helpful first step for individuals who own controlling interests in more than one business because having an Identifier # makes it easier to complete and file the BOI reports for business entities.

PS—For entities formed on or after 1.1.24, the BOI report must be filed within 90 days of the date formation.

FinCEN BOI Report Filing Requirement for Small Business Owners

FinCEN Identifier Application

FinCEN-ID-Step-By-Step-Instructions-

Contact Perkins Law, PLLC at [email protected] or (804) 205-5162 with any questions or if we can be of assistance.