12/27/2023
Beginning January 1, 2024, all LLCs and CORPORATIONS will be required to file a BOI form with the U.S. Department of the Treasury. Penalties of up to $10,000 or up to 2 years in prison for those owners who don't file the form on time.
U.S. Department of Treasury announced its final rule requiring LLC and CORPORATION to report their beneficial ownership information. The BOI report is designed to provide transparency about who owns and benefits from an LLC or Corporation.
The purpose of the reporting requirement is to make it more difficult for unscrupulous individuals to get away with illegal or improper gains through shell companies or other questionable ownership arrangements.
If you need help filling yours or need more information, contact us:
DFinancial Solutions
407.476.3653