In February, we informed you of the U.S. Department of Treasury’s new requirement to report Beneficial Ownership Information (BOI) to the Federal Financial Crimes Enforcement Network (FINCEN). This filing must be completed by December 31, 2024, as outlined on the FINCEN website:
United States Department of the Treasury Financial Crimes Enforcement Network | FinCEN.gov
You should be aware that on December 3, 2024, a federal judge in Texas issued an injunction suspending the deadline. While the litigation’s outcome remains uncertain, Wagner, Shields & Moini LLP advises clients to proceed with filing preparations to ensure timely compliance.
What is a BOI?
BOI reporting includes basic details about a business’s owner(s), such as:
- Name
- Address
- Date of birth
- Social Security Number (SSN) or Employer Identification Number (EIN)
- A scanned image of each owner’s driver’s license (required for filing)
For more details, please refer to this article:
https://wsmcpas.com/2024/06/27/what-you-need-to-know-about-the-corporate-transparency-act/
How We Can Assist
As with all of your business needs, WSM is here to assist with your BOI filing. To ensure timely support, please contact your WSM representative no later than Friday, December 13, 2024. This allows us to gather the required information and accommodate holiday schedules. Our team will discuss the necessary documentation and associated fees during this process.
Important Reminder
Beware of fraudulent solicitations related to BOI filings. Interact only through the official FINCEN website or trusted contacts at WSM.
Should you have any questions or need assistance, please don’t hesitate to reach out.
Sincerely,
Doug Moini, CPA
Wagner, Shields & Moini LLP
