Dear Corporate Clients,
There has been a new update from the government regarding the Beneficial Ownership Information (BOI) reporting.
The BOI is a mandatory requirement once again. ALL corporations (S-Corp, C-Corp, LLC) are required to file the BOI by March 21, 2025. This mandate threatens heavy penalties if not filed promptly and on time … which, for all corporations currently in existence, means a report must be filed by March 21, 2025.
As we have previously mentioned, this report needs to be filed BY THE CLIENT. We cannot file it for you. It is free and only takes approximately 10 minutes. Please visit: https://www.fincen.gov/boi to file your report.
You can view the latest updates here: https://www.fincen.gov/boi/newsroom
Those who have already filed the BOI report are in good standing and have nothing further to do at this time.
Leo Kanzelberger, CPA
Partner
Michael Di Pietro, CPA Inc.