BOI Reporting – What Small Business Owners Need to Know Before 2025
Category: Better Brokers Series
0 views – Nov 26, 2024Small businesses, including real estate brokers and property managers, are required to file Beneficial Ownership Information (BOI) reports to the Financial Crimes Enforcement Network (FinCEN) by January 1, 2025, per the Corporate Transparency Act. This Act, which became effective on January 1, 2024, was passed by Congress in 2021 to crack down on money laundering, financing of terrorism, tax fraud and other illegal acts. Does my business need to file? Take the short BizFilings’ BOI quiz to find out your filing status.