Beneficial Ownership Resource
As of January 1, 2024, the Corporate Transparency Act is in effect. Small businesses are required to file Beneficial Ownership information (BOI) reports with FinCEN.
What is the Beneficial Ownership Information Report & the Corporate Transparency Act?
BOI reporting is part of the Corporate Transparency Act that Congress passed in 2021 to crack down on money laundering, financing of terrorism, tax fraud and other illegal acts. The BOI report will contain personal identifying information about a company’s beneficial owners that will be filed with FinCEN – the U.S. Department of Treasury’s Financial Crimes Enforcement Network.
Legacy Bank is offering two convenient options to help you navigate the Beneficial Ownership Information (BOI) reporting requirements. Through our partnership with Wolters Kluwer, you can file through the BizFilings Beneficial Ownership Reporting solution, or opt to file directly with FinCEN. Both solutions ensure your business remains compliant with federal regulations, allowing you to choose the method that best fits your needs.
Two Ways to File
Does My Business Need to File?
Take the short BizFilings’ BOI quiz to find out your filing status.
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