There’s been a lot of buzz about the new Beneficial Ownership Information reporting requirement, but have you filed yours yet? Are you still trying to figure out what it even is?

In this episode, Ash and Lynne discuss a crucial topic that has been making waves in the business world throughout the United States. They discuss FinCEN’s new reporting requirement and shed light on who needs to comply, the potential penalties for noncompliance, and the complexities of reporting for different entities.

They also talk about the risks associated with entrusting sensitive information to third-party companies and provide insights for business owners and professionals handling multiple entities. This is definitely something that, as a business owner, you don’t want to sleep on, and make sure you take care of as soon as possible.

If you have specific questions about any of these topics for your practice, or if you’d like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Key Topics:

• Introduction to BOI
• Categories of Entities Subject to BOI
• Penalties and Filing Deadlines
• Responsibility for Compliance and Potential Risks
• Additional Considerations for Complex Business Structures
• Forms and Filing Process