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Important Beneficial Ownership Information (BOI) Reporting Requirement

Writer's picture: Robert J. Herrera, Esq.Robert J. Herrera, Esq.

Updated: Dec 6, 2024




Re: Important Beneficial Ownership Information (BOI) Reporting Requirement

We are reaching out to inform you of an important new federal reporting requirement that may affect your business. Under the Corporate Transparency Act, nearly all U.S. businesses must file Beneficial Ownership Information (BOI) with the Financial Crimes Enforcement Network (FinCEN). Compliance deadlines are quickly approaching, and we want to ensure that your business is prepared.

Key Details You Need to Know:

  1. What is BOI?


    BOI refers to identifying information about the individuals who directly or indirectly own or control your business.

  2. Why is this Required?


    This reporting requirement is part of a federal initiative to promote transparency and prevent misuse of businesses for illegal activities.

  3. Deadlines for Filing:

    • If your business was created before January 1, 2024: You must file your BOI report by January 1, 2025.

    • If your business was created in 2024: You must file within 90 days of receiving notice of your business creation or registration.

    • If your business is created on or after January 1, 2025: You must file within 30 days of receiving notice of your business creation or registration.

  4. How to File:


    BOI reports can be submitted through FinCEN’s official BOI E-Filing website: https://boiefiling.fincen.gov.

Action Required

Failure to comply with this new requirement could result in significant financial penalties. To ensure your compliance:

  • Call us at (970) 515-5958 or

  • Fill out our intake form here

We are available to answer your questions and can handle the filing process on your behalf for a flat fee to save you time and reduce stress.

Please don’t hesitate to reach out as soon as possible so we can help you meet your reporting deadline.

We appreciate the opportunity to assist you with your legal needs and look forward to ensuring your business remains compliant with this important requirement.

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