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What is FinCEN BOI?
FinCen BOI (Beneficial Ownership Information) is a requirement set by the Financial Crimes Enforcement Network (FinCEN)
for certain businesses to disclose information about their beneficial owners. A beneficial owner is an individual who
owns or controls a significant percentage of a company or has substantial influence over its operations.
Beginning in 2024, business owners must file a Beneficial Owner Information Report to disclose individuals with significant ownership
or control in their entity. This applies to LLCs, S Corporations, C Corporations, certain Trusts and Estates, and any entity registered
with a state. The report promotes transparency and ensures compliance with federal regulations.
Luna CPA LLC offers assistance in preparing and submitting the initial report to FINCEN, ensuring it meets all requirements and deadlines.
