📢Big News from FinCEN!
Hey everyone! The Financial Crimes Enforcement Network (FinCEN) just announced some major changes. As of now, U.S. companies and U.S. persons no longer need to report beneficial ownership information (BOI) under the Corporate Transparency Act. 🎉
🔍What's New:
- Who Needs to Report:Only foreign entities that are registered to do business in the U.S. need to report their BOI.
- Exemptions:U.S. companies and their owners are off the hook for BOI reporting.
- New Deadlines:Foreign entities that need to report have new deadlines to follow.
So, if your business is based in the U.S., you're good to go! If you're a foreign entity, make sure to check out the new rules and deadlines. If you have any questions, feel free to reach out us at 561-376-2564 or via e-mail at sheree@bizsvc4u.com.
For all the details, visit FinCEN's official announcement.
#FinCEN #CorporateTransparencyAct #RegulatoryUpdate #BusinessCompliance
