Corporate Transparency Act
The CTA is administered by the Financial Crimes Enforcement Network (FinCEN) and carries hefty penalties for not submitting your information.
As of January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) is accepting Beneficial Ownership Information (BOI). FinCEN has issued FAQs and a SMALL ENTITY COMPLIANCE GUIDE that you may find helpful.
To begin your registration go to https://www.fincen.gov/boi.
IMPORTANT DUE DATES:
| Business CREATED on or before 12/31/2023 | Reporting must be completed by 12/31/2024 |
| Business CREATED on or after 1/1/2024 but before 1/1/2025 | Reporting must be filed within 90 days |
| Business CREATED on or after 1/1/2025 | Reporting must be filed within 30 days |
Changes to previously reported information must be updated within 30 days.
As your trusted advisors we are available to answer questions and provide resources to aid you.
Mt. Pleasant office: 989-772-1209
Midland office: 989-631-9500
