jon on Nostr: New Federal Reporting Requirement – the Corporate Transparency Act, enacted to curb ...
New Federal Reporting Requirement – the Corporate Transparency Act, enacted to curb illicit finance, requires companies doing business in the United States to report information about the individuals who ultimately own or control them.
By December 31, 2024, businesses will need to report information about each beneficial owner. Any newly formed businesses must do the same within 90 days of being registered with the state. Businesses will be fined for not registering the appropriate information.
Completing the form is FREE and only needs to be submitted one time.
Be advised that businesses may be subject to civil penalties of $500+ for each day that they have not completed the filing requirement.
https://home.treasury.gov/news/press-releases/jy2015
By December 31, 2024, businesses will need to report information about each beneficial owner. Any newly formed businesses must do the same within 90 days of being registered with the state. Businesses will be fined for not registering the appropriate information.
Completing the form is FREE and only needs to be submitted one time.
Be advised that businesses may be subject to civil penalties of $500+ for each day that they have not completed the filing requirement.
https://home.treasury.gov/news/press-releases/jy2015