Beneficial Ownership Information
Beneficial Ownership Information is a new, required filing with the Treasury Department that involves declaring the individuals who ultimately own or control a legal entity, such as a corporation or LLC. In short, it’s letting the government know who really owns or controls your company, and it is now required to prevent financial crimes like money laundering. All the information you submit is private to the Treasury Department and also kept confidential by our law firm. By entering your information here, we save you the hassle of making the filing and give you the peace of mind that it is done right. Let’s get started…
FAQ'S ON BENEFICIAL OWNERSHIP INFORMATION:
What is a Beneficial Ownership Form and who needs to file it?
If you own an entity, as of 2024, you must make this filing (unless you have an exemption). The Beneficial Ownership Information Form is a critical filing that identifies the real people who own, control, and profit from companies. This form must be submitted by most legal entities to meet U.S. Treasury Department regulations designed to prevent financial crimes such as money laundering. Any business that meets the criteria set by FinCEN is required to file, including corporations, LLCs, and other entities that operate under a layer of anonymity. By filling out our form above, we make sure that you quickly and smoothly make this filing and stay in compliance. All information you submit is completely confidential. Start here.
How does Earley Business Legal streamline the filing process?
We utilize a proprietary platform that collects your information so that we can quickly and easily submit your Beneficial Ownership Information filing accurately and efficiently. Our process involves collecting the necessary details through a secure online form, verifying the information for accuracy, discussing with you if necessary, and handling the submission on your behalf. This not only saves time but also reduces the margin for error, allowing you to focus on running your business without the hassle of complex regulatory compliance. Get started here.
When do I have to file? What if I don't?
If you owned a business before 2024, then you need to make this filing by the end of the year. However, if you started a new entity after 1/1/2024, then you need to make this filing within ninety (90) days of creating your entity. this is why our LLC creation process prompts you to make this filing.
Failing to file the Beneficial Ownership Information Form or filing inaccurate information can lead to severe penalties, including hefty fines and legal actions. The U.S. government requires accurate disclosure of beneficial owners to track and prevent illicit activities. Our form above ensures that your filing is in full compliance with the law, protecting your business from potential legal complications and financial penalties associated with these violations. Get started here.
Can Earley Business Legal help if I've already missed a filing deadline?
If you have missed a filing deadline, it's crucial to act quickly to mitigate any potential penalties. We can assist in expediting the filing process and advising on the best steps to take to rectify the situation with the Treasury Department. Our proactive approach helps to minimize the impact of late filing and demonstrates a good faith effort to comply, which can be beneficial in avoiding or reducing any imposed fines or penalties. Get started here.