Effective January 1, 2024, new reporting rules are in place under the Corporate Transparency Act (CTA). Most companies created in or registered to do business in the United States are now required to report information on their “beneficial owners” to the Financial Crimes Enforcement Network (FinCEN). These reports, known as Beneficial Ownership Information (BOI) reports, must be filed electronically through the FinCEN website. It’s crucial for businesses to comply with these requirements, as failure to do so may lead to serious civil or criminal penalties. To support this transition, our dedicated webpage offers additional resources and information.