Ep65 -New Reporting Law for Consultants & Small Agency Owners (BOI FinCEN reporting)
3/5/24 - New Reporting Law for Consultants & Small Agency Owners (BOI FinCEN reporting)
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In breaking news…a new year - a new law!
Today Erica talks about the brand new Beneficial Ownership Information (BOI) reporting law, which went into effect on January 1, 2024. Geared toward small business owners, consultants, and agency owners, this law mandates reporting to the Financial Crimes Enforcement Network (FinCEN), a branch of the U.S. Department of Treasury.
Inside, you’ll find the answers to such questions as:
What is the Beneficial Ownership Information Reporting Law?
Who is Exempt from the Beneficial Ownership Information Reporting Requirements?
Can I File My BOI Reporting Myself, or Do I Need a Professional?
What Information Do I Need to File My Business's BOI Reporting?
What are the Deadlines for Filing BOI Reporting?
If you haven’t filed this yet, please take note of the Bonus episode: Live BOI Application Walkthrough, where Erica walks you through the process as she completes it for her own business.
Important links mentioned in this episode:
Link to BOI Reporting | https://www.fincen.gov/boi
BOI Brochure | https://www.fincen.gov/sites/default/files/shared/BOI%20Informational%20Brochure%20508C.pdf
Exemption from Reporting | https://www.fincen.gov/boi-faqs#C_2
In the meantime, may your week be filled with new reporting laws… and profit.
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