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Tax

FinCEN BOI Reporting

Report beneficial ownership or face $500/day fines.

Overview

Corporate Transparency Act requires most LLCs/corps to report beneficial owners to FinCEN. Deadline: 90 days from formation (new) or Jan 1, 2025 (existing). Penalties: $500/day + criminal exposure.

Best fit
All LLC/Corp ownersMulti-entity structuresNew entity formations
Estimated impact
Avoid $500/day + criminal penalties

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