Beginning January 1, 2024, the federal Corporate Transparency Act (CTA) requires all entities created or registered by filing a document with the Secretary of State or similar state office, to file a beneficial ownership information (BOI) report with the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of Treasury. Examples of entities that must file a report are corporations, limited liability companies (LLCs), and limited partnerships. Reporting companies created before or registered to do business as of December 31, 2023, have until January 1, 2025 to report Beneficial Ownership Information (BOI) to the Financial Crimes Enforcement Network (FinCEN).

Please visit the following link for more information regarding this new reporting requirement.

https://www.fincen.gov/boi