Deadlines for Beneficial Ownership Information (BOI) reporting will be here soon. As a reminder, you may have an additional reporting requirement this year as a result of the Corporate Transparency Act. Please take the time now, before the end of the year, to determine whether you have a BOI filing requirement. Currently, KN+S is not engaging in the preparation of the reports, and we encourage you to consult legal counsel.
For certain companies in existence prior to January 1, 2024, you will have until January 1, 2025, to file. For certain companies in existence on or after January 1, 2024, you have 90 days of the entity’s creation or registration to file.
For additional information, we strongly encourage you to visit the FinCEN website where you can find details on the reporting requirements, information needed, exceptions to filing, and more. Click here to visit the FinCEN website for info on BOI reporting. https://www.fincen.gov/boi
You can also read our prior newsletters on this topic, linked below:
Beneficial Ownership Information Reporting Under The Corporate Transparency Act
Beneficial Ownership Information Reporting Under The Corporate Transparency Act – Part 2
Louis Sierra, CPA, MST, Tax Supervisor at Katz, Nannis + Solomon, P.C. If you have any questions or would like to speak with one of our tax professionals, please contact our office at 781-453-8700.