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We don’t want to get spammed either. We respect your privacy and protect it.

You might have heard of the Corporate Transparency Act and the new filing requirement called the Beneficial Ownership Information report. Well, its real, and of course the penalties are high for non-compliance – up to $10,000! Below is a quick summary so you know what it is. Reach out if you need more detail, and if you need a referral to a business attorney who can take care of this for you. Unfortunately, our insurance provider won’t let us do it for you!

Important dates: Companies created before 1/1/2024 have until 1/1/2025 to file this report. If you are a new entity after 1/1/2024, you have 30 days to file this.

Does it apply to you: Yes if you ultimately own >25% of a legal entity even if you don’t appear on official documentation.

What Information Needs to be Reported: Name, birthdate, residential address, picture of an official ID (passport, US drivers license etc).

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