Client Alert
Deadline Approaching Under the Corporate Transparency Act
October 24, 2024
Has your company filed its BOI report?
As announced in December 2023, under the Corporate Transparency Act (CTA), certain legal entities formed before January 1, 2024 have to file a Beneficial Ownership Information (BOI) report with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) by January 1, 2025, providing certain information about its “beneficial owners.”
That means that every legal entity formed by filing paperwork with a Secretary of State (or its equivalent) must determine whether it is required to file a BOI report or if it is exempt from filing. Has your company undertaken this review yet?
UB Greensfelder attorneys are here to assist. We can answer questions you may have about the CTA to help determine if your company is required to file or if it falls within one of the 23 exemptions for filing.
We will continue to closely monitor the CTA and provide further guidance and updates as necessary.
For more on the CTA as previously announced, read our December 2023 Client Alert, Corporate Transparency Act Brings Changes for Reporting Companies in 2024.
The information provided in this client alert speaks only to the information and guidance we have available as of the date of publication and is subject to change. This legal update was created by UB Greensfelder LLP, and is not intended as a substitute for professional legal advice. Receipt of this client alert, by itself, does not create an attorney client relationship. For any questions, or for further information, please contact your UB Greensfelder attorney.
