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Hi Danijella ,
We want to bring your attention to an important new regulation that could affect your business: The Corporate Transparency Act (CTA). Passed by Congress, this law is designed to combat money laundering and terrorist financing, but it requires action from most corporations, LLCs, and similar entities doing business in the U.S.
What You Need to Know:
The CTA introduces a requirement for businesses to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of the Treasury.
- For businesses formed or registered before January 1, 2024: You must file an initial beneficial ownership report by January 1, 2025.
- For businesses formed on or after January 1, 2024: You must file within 90 days of receiving notice of formation.
- For businesses formed on or after January 1, 2025: You must file within 30 days of receiving notice of formation.
Reports are filed with FinCEN at https://www.fincen.gov/boi.
Failure to comply with this reporting requirement can result in significant civil and criminal penalties.
We understand that these new regulations may be complex and time-sensitive. That's why The Lending Corporation LLC is here to help you navigate the filing process and ensure that your business remains compliant with the new requirements. Our team can guide you through each step, making sure you meet all deadlines without stress.
If you have any questions or need assistance with filing your beneficial ownership information report, don’t hesitate to reach out. We're here to help ensure your business remains compliant and avoids unnecessary penalties.
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