BOI Filings Due December 31st

If you own a corporation or an LLC, you must file a Beneficial Ownership Information Report (BOI or BOIR) no later than December 31, 2024. This new government requirement is mandated by the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.

It takes about 4 minutes to complete online but you must have your government issued identification saved on the device you are using to upload it. Here is a link to file your BOI online.

https://boiefiling.fincen.gov

The government has set a deadline of December 31 to complete this. Failure to complete the registration will result in a $500 fine per day commencing January 1, 2025.

The form is very simple to complete, however, if you feel you may need help, many tax professionals are able to assist for a nominal fee of $25-50 on average (some may charge more).

PLEASE MAKE SURE YOU PRINT THE CONFIRMATION PAGE WHEN YOU COMPLETE THE REGISTRATION. If for whatever reason the government claims you never filed, your printed copy can and will save you thousands in potential fees.

This is a courtesy reminder for all of our corporate clients and business associates who subscribe to our blog.

– Rafael Amador