The National Notary Association recently released an outstanding article about a new enforcement deadline of a fairly new federal law. The new Corporate Transparancy Act (CTA) will be penalizing the beneficial owners of LLCs, corporations or other structured businesses if they fail to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). This law will apply to most small businesses and is expecting to be fining these unsuspecting businesses starting January 25th, 2025.
Business Owners Can Visit Fincen.gov/BOI for More Information
Leave a Reply