Beginning Jan. 1, 2024, tens of millions of small businesses must comply with the Corporate Transparency Act by filing beneficial ownership information reports.

As the reporting requirement launch quickly approaches, FinCEN is intensifying its issuance of guidance to address numerous inquiries from reporting companies, accounting and law firms, financial institutions, and other stakeholders.

These reports must be filed on the FinCEN website and as of now, their system is not accepting reports until after January 1st, 2024.

• Entities created in 2024 that fit the criteria must file within 90 days of creation.
• Existing entities have until January 1, 2025, to file.

Note: This reporting must be done on the FinCEN website. 

For further details, please read the following article: