Beneficial Ownership Information Report
BOI reporting is part of the Corporate Transparency Act that Congress passed in 2021 to monitor money laundering, financing of terrorism, tax fraud, and other legal acts. This reporting is required for specific business entities.
On January 24, 2025, FinCEN issued additional guidance with respect to the U.S. Supreme Court’s ruling to lift the nationwide injunction issued by a federal judge in Texas that enjoined enforcement of the Corporate Transparency Act (CTA). Due to the fact that a separate nationwide order issued by a different federal judge in Texas remains in place, reporting companies are not currently required to file beneficial ownership information with FinCEN. However, FinCEN has advised that reporting companies may continue to voluntarily submit beneficial ownership information reports.
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Additional assistance related to this BizFilings form: Call (888) 318-0446
More information from FinCen can be found Here.
Additional Resources
Top 5 Things Small Businesses Need to Know About Corporate Transparency Act
This video covers what a beneficial owner is, why this requirement exists, and more.
Checklist: What information is required?
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