MARK KOHLERMain Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, LLC · Owner at Main Street Professionals, LLC

$250k and 5 years in prison if you miss this NEW LAW

4 Mar 2026 · 1 min

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The Beneficial Ownership Information reporting requirement is back after a Supreme Court block. Starting March 1, any real estate transfer into an LLC requires detailed owner disclosures including driver's license and Social Security number. Miss the deadline and you face up to $250,000 in fines and five years in prison.

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Well, last year you may have heard about the BOI report or the Beneficial Ownership Information Report, which was a big deal. Any owner of an LLC in the country had to disclose who the owners of the LLC were with their driver's license, Social Security number, the whole nine yards. It was a lot of information. Got shut down in the Supreme Court. Well, now it's back in a different form. And if you're going to transfer any sort of real estate into an LLC, this report is going to be required. Now there's a couple exceptions, But the penalties and fines are big again. And it went into effect March 1st.