Date Change: Beneficial Ownership Information Report Due January 13, 2025

08.01.25 02:07 PM - By MARK HERRMANN

Beneficial Ownership Information Report Due January 13, 2025

This is an update regarding small businesses that were organized prior to January 2024.  The injunction to delay the filing of your Beneficial Owner Information (BOI) Report has been removed in favor of the Federal Government as of December 23rd.  Therefore, if you meet the filing requirements to report your business entity with the FinCEN department, you must do so no later than the extended due date of January 13, 2025.  If you have a business that is registered with the Secretary of State, you should determine if you are required to file and submit the information by January 13, 2025. 

The penalties for not complying with the BOI reporting requirements are significant ($500/day and up to $10,000).  Therefore, it is important that you determine if you meet the filing requirements and provide the required information timely. 

In a previous post, we broke down the law and information needed for small business owners. Check that out here. 
 
The following link provides information as to who is a beneficial owner and exemptions for filing:  https://fincen.gov/boi/small-business-resources
 
Once you determine if you are required to file and you have all the information to submit, you my file your BOI report by going to the following link:  https://fincen.gov/boi

MARK HERRMANN