Is Your Company a Reporting Company?

Written By Jon Chester

Happy New Year

 

I am so excited to start a new year and all of the great adventures, challenges, and successes in store.  We made it through the 1st week of the new year which is always a bit stressful for me to get back in the mode of work after the holiday season.  The new year brings new compliance for all of you who own or have an equity stake in a company (LLC, Corp, Inc, etc).  Congress in their never-ending pursuit of bureaucracy now has another information reporting requirement, the Beneficial Ownership Information (BOI).  This is a similar reporting effort, like the FBAR, but has much more far-reaching consequences.

As with everything, there are exemptions to the rules.

What are your next steps and where can you obtain more information?  https://www.fincen.gov/boi 

Please contact your corporate attorney to assist you with this new reporting requirement.

Jon Chester
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