Beneficial Ownership Information (BOI) Reporting Office Hours

Beneficial Ownership Information (BOI) Reporting Requirements:

What is it? It is a federal reporting requirement based on a federal law, the Corporate Transparency Act, adopted in 2021 that became effective in 2024.

What is the purpose? The goal is to prevent and combat money laundering activities by giving the government the tools to crack down on anonymous shell companies used by criminals.

Who needs to file? LLCs and Corporations must file. Sole Proprietors are exempt. See a more detailed list of exemptions here.

When do I need to file? If your business was formed prior to January 1, 2024, you have until January 1, 2025 to file. If your business was created in 2024, you have 90 days from formation to file. Starting on January 2025, you will have 30 days after formation to file.

Do you need to hire someone to file for you? In most situations, filing is free and relatively straightforward.

Still not sure where to start? Need some moral support while you file? Make an appointment during our upcoming BOI Reporting Office Hours!