fINCEN Beneficial Ownership Information Reporting

Companies required to file FinCEN BOI Reporting  have until January 1, 2025 to file initial beneficial ownership information reports. 

It is a regulatory requirement that mandates businesses to disclose information about the individuals who directly or indirectly own or control the company. This helps ensure transparency and is aimed at preventing illicit activities such as money laundering and tax evasion. The report typically includes details like names, addresses, and ownership percentages of these key individuals, ensuring compliance with federal regulations.

BOI Reporting is yet another regulatory requirement that small businesses need to manage, and it can easily become a time-consuming task. Fortunately, Rainier DMM is technically trained to assist small businesses with their administrative and financial needs, now including BOI Reporting. With Rainier DMM, this additional task can be handled seamlessly, allowing you to focus on your business while we ensure compliance. We make the process as simple as the push of a button, providing reminders and updates along the way so you never miss a deadline or critical detail.

Click Here to learn more about BOI Reporting at the FinCEN site