10/28/2024
OWN AN LLC? Deadline is January 1, 2025 or pay up on those penalties! 😫 *Good thing it only takes about 5 minutes!
"Penalties for failing to file or misreporting beneficial ownership information (BOI) can be severe and include:
> Civil penalties
A fine of up to $591 per day for each day of violation, with a maximum fine of $10,000
> Criminal penalties
Up to two years in prison and a fine of up to $10,000 for willful violations
The BOI reporting requirement applies to most LLCs, corporations, and other entities created by filing with a secretary of state. However, there are 23 types of entities exempt from this requirement."
Link in comments to FAQ's and who is exempt from needing to file this.
https://boiefiling.fincen.gov/fileboir
