New Beneficial Ownership Information (BOI) Reporting Requirement: What You Need to Know

Starting January 1, 2024, a new Beneficial Ownership Information (BOI) reporting requirement under the Corporate Transparency Act (CTA) goes into effect. This regulation, managed by the Financial Crimes Enforcement Network (FinCEN), aims to combat illicit financial activities by identifying the individuals who ultimately own or control certain entities. With an estimated 32.6 million businesses impacted, […]