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BEWARE NEW LAW for businesses

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BEWARE NEW LAW for businesses

As of January 1, 2024, the federal Corporate Transparency Act (CTA) requires businesses to file Beneficial Ownership Information (BOI) to the U.S. Treasury's Financial Crimes Network (FinCEN). Unless included in FinCEN's list of 23 exemptions, businesses created:

o Before January 1,2024, must file a BOI by January 1, 2025
o In 2024 must file a BOI within 90 days of creation
o In 2025 (and after) must file within 30 days of creation

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