Introduction to the Corporate Transparency Act (CTA), Beneficial Owner Information (BOI) and FinCEN Reporting
- What companies will be required to report beneficial ownership information to FinCEN?
- What government offices are considered a "similar office" to a secretary of state, in regard to creating or registering a company in the U.S.?
- Is a company required to file an updated BOI report upon dissolution? Are there post-dissolution BOI reporting requirements?
- When does a company cease to exist?
- If a reporting company created or registered in 2024, or later, winds up its affairs and ceases to exist before its initial BOI report is due, is it still required to submit that initial report?
- Do BOI reporting requirements apply to companies created or registered before the CTA was enacted (January 1, 2021)?
- Is a company required to report its beneficial ownership information if it ceased to exist before January 1, 2024? Does a company that ceased to exist have to submit an initial BOI report?
- What is the Corporate Transparency Act (CTA)?
- What is a "Reporting Company"?
- How is the beneficial ownership information (BOI) report connected to the Corporate Transparency Act (CTA)?
- What is a beneficial ownership information (BOI) report?
- Why is it necessary for companies to provide beneficial ownership information to the U.S. Department of the Treasury?
- What is considered an ownership interest?
- What is the significance of beneficial ownership in Corporate Transparency Act reports?
- What is the due date for filing a company's BOI report? Do I report a Trade Name? Do I report a DBA?
- Who can be held liable for violating BOI reporting requirements?
- When will authorized recipients gain access to beneficial ownership information?
- Who can access beneficial ownership information under the Corporate Transparency Act?
- Which state agencies can request beneficial ownership information from FinCEN?
- Do the BOI reporting requirements apply to S Corporations?
- If a domestic corporation or LLC is not created by the filing of a document with a secretary of state or similar office, is it a reporting company?
- Are homeowners associations reporting companies?
- What should a trust do if they are uncertain about their BOI reporting obligations?
- How is an Indian Tribe defined under the Corporate Transparency Act?
- Can foreign governments access beneficial ownership information?
- When are subsequent BOI reports due? Are there more BOI filings required after the initial filing?