January 1, 2025 is the deadline that looms over the heads of every business owner in the United States. To be more exact, filing your beneficial ownership information (BOI) applies to every foreign and domestic person who owns or controls 25% of an entity, such as an LLC, C-Corp, S-Corp, Partnership, etc. If you fail to file before Jan 1, 2025 you can face both civil and criminal penalties. Civil penalties are $591 for each day that you're late. Criminal penalties are up to 2 years imprisonment and a fine of up to $10,000.
If you've created your company in 2025 and beyond you have 30 calendar days to register with the Financial Crimes Enforcement Network (FinCEN).
Although you can pay a company to file your BOI on your behalf, it is likely more time and cost effective to simply do it yourself. You can do that Here.
If you would like to learn a little more about BOI you can watch our YouTube video we made Here. Be kind, as it was the first ever video that we made! (How exciting and embarrassing)
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