You may have seen our special alerts and or seen the news reports regarding the new reporting requirements under the Corporate Transparency Act (“CTA”) that affects limited liability companies, limited partnerships, corporations, and other business entities. Our files indicate that you may be an owner of an entity that is affected by these new CTA requirements.
The CTA mandates that reporting companies disclose specific details about the business and its owners to the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”). If, as we suspect, your business or businesses fall under the CTA, you must provide the necessary beneficial ownership information by the deadlines. For entities created before January 1, 2024, reports are due by January 1, 2025. Entities created this year will have 90 days to report. We anticipate an overwhelming volume of reporting requests at the end of the year, and we have concerns that we may not be able to assist all requests. Your CPA or other professional advisor may have filled out this report on your behalf but if not please contact us as soon as possible as the deadlines are here.
If you want to accept this responsibility and self report here is the link https://boiefiling.fincen.gov/
If you want to engage our firm for filing the initial report, please email us and ask for the BOIR Worksheet and the engagement agreement at [email protected] or call at 512.263.5400.