A person who willfully violates the BOI reporting requirements may be subject to...
Civil penalties of up to$590 for each day that the violation continues.

Criminal penalties as follows:
Up to two years imprisonment
A fine of up to $10,000.
 
We REALLY don't want you to face those penalties, so can we agree that it's best to just file the report?
Great. Now that we've cleared that up...
How about some help?
 
Unsure about whether you need to file?
Concerned about getting it right?
Just too busy*?
NO worries. We've got your back!
*FinCEN estimated to the Office of Management and Budget that it would take an average of 90 minutes to complete a simple BOI report and over 10 hours to complete a more complex report.
BOI Report Filing* with Fusion:
First Entity: $400
Each Additional Entity (for the same client): $300
(Sure beats $590/day and/or $10K in penalties!! 🤑)
*This service is available for current and new clients, nationwide.
If you are a small corporation or LLC, you will likely be required to report your beneficial ownership information to FinCEN - The Financial Crimes Enforcement Network (a bureau of the U.S. Department of the Treasury).
Who is a Beneficial Owner?
A beneficial owner is any individual who exercises substantial control over your company, or who owns or controls at least 25 percent of your company.
What Kind Of Information Are They Collecting?
Some of the items required for reporting include:
Full legal name
Date of birth
Complete current address
An image of an acceptable identification document
Info related to the entity, itself
 
 
But Why, Though?
In 2021, Congress passed the Corporate Transparency Act on a bipartisan basis. This law creates a new beneficial ownership information reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures.
Ok... How Long Do I Have To Get This Done?
If your company already existed as of January 1, 2024, it must file its initial BOI report by January 1, 2025.
If your company is/was created or registered to do business in the United States on or after January 1, 2024, and before January 1, 2025, it will have 90 calendar days after receiving actual or public notice that the company’s creation or registration is effective to file its initial BOI report.
If your company is created or registered on or after January 1, 2025, it will have 30 calendar days from actual or public notice that its creation or registration is effective to file its initial BOI report.
Alert:FinCEN has been notified of recent fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the Corporate Transparency Act. The fraudulent correspondence may be titled "Important Compliance Notice" and asks the recipient to click on a URL or to scan a QR code. Those e-mails or letters are fraudulent. FinCEN does not send unsolicited requests. Please do not respond to these fraudulent messages, or click on any links or scan any QR codes within them.
QUESTIONS?
Contact Karson Mayer at 720-922-1120 or karson.mayer@fusiontaxlaw.com if you have any questions regarding this filing.
 
We look forward to supporting you with this new requirement!
It's all right here.
 
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