In 2021, Congress passed the Corporate Transparency Act, which requires Corporations, LLCs, and other entities that have registered with the Secretary of State to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). The BOI report discloses information regarding individuals who either own at least 25% of the business or have substantial control over the company, including names, addresses, and identity verification documents such as a driver’s license or passport.

Please note that this is not a tax filing with the IRS, but rather a regulatory filing with FinCEN, which must be submitted before 1/1/2025.

To submit the report, please visit https://boiefiling.fincen.gov/. For additional information, you can refer to http://www.fincen.gov or consult with your attorney.