10/03/2024
ATTENTION ALL MEMBERS OF LLCs, LPs, LLPs, CORPORATIONS OR ANY TYPE OF SIMILAR ENTITY:
FinCEN BOI reporting is a NEW mandatory business filing requiring most U.S. companies to submit their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) in 2024. This requirement comes from a new law called the Corporate Transparency Act (“CTA”) that was passed to enhance the government's efforts to combat money laundering, terrorist financing, and other financial crimes. This reporting requirement started in 2024, and it is enforced by potential penalties including fines of $500 per day of noncompliance, up to $10,000.
If you feel comfortable with the process, you may choose to file the beneficial ownership information on your own. However, if you would prefer professional assistance, we are here to help. Alpine Summit can file your BOI for a fee, which varies based on the size of the entity.
If you'd like more information on our filing service, email [email protected]. More information on BOI can be found here: https://www.fincen.gov/boi