{"id":2940,"date":"2024-03-16T11:24:30","date_gmt":"2024-03-16T16:24:30","guid":{"rendered":"https:\/\/heroic.cpa\/?p=2940"},"modified":"2024-03-16T11:24:30","modified_gmt":"2024-03-16T16:24:30","slug":"u-s-beneficial-ownership-information-registry-now-accepting-reports","status":"publish","type":"post","link":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/2024\/03\/16\/u-s-beneficial-ownership-information-registry-now-accepting-reports\/","title":{"rendered":"U.S. BOI Registry Now Accepting Reports"},"content":{"rendered":"<p><em>Existing Companies Have One Year to File; New Companies Must File Within 90 Days of Creation or Registration<\/em><\/p>\n<p>WASHINGTON \u2013 Today, the U.S. Department of the Treasury\u2019s Financial Crimes Enforcement Network (FinCEN) began accepting\u00a0<a href=\"https:\/\/www.fincen.gov\/boi\">beneficial ownership information reports<\/a>. 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.<\/p>\n<p>\u201cThe launch of the United States\u2019 beneficial ownership registry marks a historic step forward to protect our economic and national security,\u201d said Secretary of the Treasury Janet L. Yellen. \u201cCorporate anonymity enables money laundering, drug trafficking, terrorism, and corruption. It harms American citizens and puts law-abiding small businesses at a disadvantage. Having a centralized database of beneficial ownership information will eliminate critical vulnerabilities in our financial system and allow us to tackle the scourge of illicit finance enabled by opaque corporate structures.\u201d<\/p>\n<p>Filing is simple, secure, and free of charge. Companies that are required to comply (\u201creporting companies\u201d) must file their initial reports by the following deadlines:<\/p>\n<ul>\n<li><strong>Existing companies<\/strong>: Reporting companies created or registered to do business in the United States\u00a0<em>before<\/em>\u00a0January 1, 2024 must file by January 1, 2025.<\/li>\n<li><strong>Newly created or registered companies<\/strong>: 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\u2019s creation or registration is effective.<\/li>\n<\/ul>\n<p>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.\u00a0Generally, reporting companies must provide four pieces of information about each beneficial owner:<\/p>\n<ul>\n<li>name;<\/li>\n<li>date of birth;<\/li>\n<li>address; and<\/li>\n<li>the identifying number and issuer from either a non-expired U.S. driver\u2019s license, a non-expired U.S. passport, or a non-expired identification document issued by a State (including a U.S. territory or possession), local government, or Indian tribe. If none of those documents exist, a non-expired foreign passport can be used. An image of the document must also be submitted.\u00a0<\/li>\n<\/ul>\n<p>The company must also submit certain information about itself, such as its name(s) and address. In addition, reporting companies created on or after January 1, 2024, are required to submit information about the individuals who formed the company (\u201ccompany applicants\u201d).<\/p>\n<p>Article <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy2015\">by Fincen.gov<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Existing Companies Have One Year to File; New Companies Must&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2940","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"admin","author_link":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/author\/admin\/"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/category\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","rttpg_excerpt":"Existing Companies Have One Year to File; New Companies Must...","_links":{"self":[{"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/posts\/2940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/comments?post=2940"}],"version-history":[{"count":0,"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/posts\/2940\/revisions"}],"wp:attachment":[{"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/media?parent=2940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/categories?post=2940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aelitedigital.com\/Wp-Heroic-Solutions\/wp-json\/wp\/v2\/tags?post=2940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}