New Federal Reporting Requirement for

Beneficial Ownership Information (BOI)

Who has to report?

Companies required to report are called reporting companies. Reporting companies may have to obtain information from their beneficial owners and report that information to FinCEN.

When do I Report?

• If your company was created or registered prior to January 1, 2024, you will have until January 1, 2025 to report BOI.

• If your company is created or registered in 2024, you must report BOI within 90 calendar days after receiving actual or public notice that your company’s creation or registration is effective, whichever is earlier.

• If your company is created or registered on or after January 1, 2025, you must file BOI within 30 calendar days after receiving actual or public notice that its creation or registration is effective.

• Any updates or corrections to beneficial ownership information that you previously filed with FinCEN must be submitted within 30 days

If you have questions, click here:

https://www.fincen.gov/boi/beneficial-ownership-information-frequently-asked-questions

How do I report?

Reporting companies report beneficial ownership information electronically through Ascend’s website:

New BOI Report | Ascend Accounting Group, LLC

The system provides a confirmation of receipt once a completed report is filed with FinCEN.

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