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BOI: New Federal Reporting for Small Businesses

Guest video blogger, Larry Gray (AGC Solutions), explains the basics of Beneficial Ownership Information (BOI). BOI is issued by the Financial Crimes Enforcement Network (FinCEN). According to BOI, qualifying small businesses are required, beginning January 1, 2024, to report certain company and individual information to FinCEN.

The video will answer questions such as:

  • Why do I have to report BOI?
  • What companies have to report BOI?
  • Does the company or individual have to report BOI?
  • What are fines for failing to report BOI?
  • When do I have to report BOI?

By Larry Gray, CPA
Partner, AGC Solutions
Larry Gray

AGC Solutions does not provide tax, legal or accounting advice. This content has been prepared for informational purposes only and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Also, tax law is ever-changing and every effort should be made to seek out the most current information. Make sure to check date of published content to ensure most current information.

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