BOI compliance technical assistant support

Urgent Update: FinCEN BOI Reporting Requirements Changed!Significant changes to FinCEN's Beneficial Ownership Information (BOI) reporting requirements are now in effect as of March 26, 2025.Key Takeaways for US Business Owners & LLC Founders:US Domestic Entities Exempt: All entities created in the United States (formerly 'domestic reporting companies') and their beneficial owners are now exempt from reporting BOI to FinCEN under an interim final rule.Foreign Entities Still Report: The reporting requirement now primarily applies to foreign entities registered to do business in the U.S.If registered before March 26, 2025, file by April 25, 2025.If registered on or after March 26, 2025, file within 30 calendar days of registration becoming effective.No Penalties for US Domestic Companies: FinCEN will not pursue penalties for U.S. domestic companies for BOI non-compliance related to these changes.What You Should Do Now:Verify Your Entity Type: Confirm if your business is a domestic U.S. entity or a foreign entity registered in the U.S.Monitor FinCEN Guidance: This is an interim rule; stay informed about any finalizations or further updates from FinCEN.Maintain Records: Keep organized records of beneficial owners and company applicant information, even if currently exempt.Beware of Scams: Only use FinCEN's official BOI E-Filing System.Consult an Expert: For complex situations or specific advice, reach out to an attorney or compliance professional.Remember, state-level beneficial ownership requirements may still apply, so check with your state's secretary of state.