There is a new federal requirement for any business that is registered with a state, whether it be an LLC, SMLLC, MMLLC, Partnership, Corporation, or whatever entity you have with very minor exceptions. This requirement is that you have to file your beneficial ownership information or BOI online before January 1, 2025, if you were in business before 2024. If you started a new business in 2024 you have 30 days from creating the new company to file the report.

After the initial filing you must update the information any time that information changes, for example one partner sells to someone else, or the company ceases to exist or an address changes etc.

For more information you can go to: https://www.fincen.gov/beneficial-ownership-information-reporting-rule-fact-sheet

You will need your articles of organization/incorporation from the state, if you do not know where your copy is you can get that from the SOS website.

You will need all of your personal information for each person who has 25% or more ownership or control of the company.

You will also need I.D. for each Beneficial Owner scanned in to attach to the form, front and back of DL or Passport or whatever I.D. you will use.

I will be doing these if you want me to. I will be starting these in November so that I will have enough time to have them completed by mid-December.

Please let me know ASAP if you want me to get you on my calendar to get you taken care of.

If you have business friends with questions about this, please send them my way.

BROCHURE FOR MORE INFORMATION:

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.fincen.gov/sites/default/files/shared/BOI-Informational-Brochure-April-2024.pdf