Business Owners NEED To Get This Done Before 2025!

29 Oct 2024 · 1 min

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Allen Kopelman explains FinCEN's Beneficial Ownership Information filing requirement. Corporations formed before 2023 must register by end of 2024, newly formed ones have 90 days. Filing is free at fincen.gov/boi.

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So just so everybody knows, this is another thing that's free. You don't have to pay for the BOI registration. Everybody who has a corporation is required to do it. So if you have a corporation prior to 2023, you have to complete it by the end of 2024. You have to go on the website for FinCEN, f-i-n-c-e-n.gov/boi, and and fill out the form and you register all the beneficial owners of the corporation. I think this has caused a lot of trickle-down issues that we're seeing in our business right now. I'll explain that in a second. And if you registered your corporation in 2024, I think you have like 90 days to complete that.