Beneficial Ownership Information Reporting
Effective January 1, 2024
What is the Corporate Transparency Act and Beneficial Ownership Information Reporting?
The Corporate Transparency Act passed in 2021 and requires individuals who directly or indirectly own or control a qualified company to report their Beneficial Ownership Information (identifying information) to the Financial Crimes Enforcement Network (FinCEN). This new legislation will help the US Government in its efforts to make it very difficult for offenders to hide or benefit from their fraudulent schemes.
Who Must Comply?
According to FINCEN over 90% of all businesses in the United States must comply with the Corporate Transparency Act and file a BOI report. There are 23 specific exceptions that negate reporting requirements.
When Does This New Law Take Effect?
A qualified reporting company that was created or registered before January 1, 2024, must file by January 1, 2025. A reporting company that is created or registered after January 1, 2024, will have 90 days to file its initial BOI report with FinCEN.
What About Penalties?
The penalties are steep. Willful violations could result in civil penalties and/or criminal penalties. Potential civil penalties include fines of $500 per day, up to $10,000, while criminal penalties could include imprisonment of up to two years.
PARTNERSHIP OPPORTUNITIES
Generate Revenue and Good Will With Clients
YOU’LL BE RECEIVING:
REVENUE OPPORTUNITIES
Our partnership program is designed to bring you revenue for each BOI report filed.
ENTERPRISE-GRADE SECURITY
Robust encryption and access controls protect your files.
MARKETING DASHBOARD
Ready-to use and white labeled marketing communications.
Why Choose Nimble Reporting?
We pride ourselves on offering a quick, intuitive and guided user-experience.
OUR EXPERIENCE
Nimble Reporting was founded and developed by seasoned attorneys, CPA’s and technologists whom have decades of combined experience filing with federal agencies.
IF NOT YOUR ORGANIZATION, THEN WHO?
Many of your clients are subject to BOI reporting requirements. If you don’t educate them and deliver a solution, they'll find another organization that will!