BOI Reporting UPDATE

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I'm gonna cut right to the chase ('cause this one's critically important, and I've been remiss on getting my newsletter out --- been out and about visiting some sunny places lately! So PLEASE READ the updates below!

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NEW BOI DUE DATE: March 21, 2025

TLDR: Guess what? There's a new ruling on the BOI Reporting case. Most businesses are now (once again) 'REQUIRED' to file a BOI Report!!!

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DUE DATE: MARCH 21, 2025

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Here's what the FinCen website has to say , and I quote:

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"ALERT [updated Feb. 19, 2025]: Beneficial ownership reporting requirements are back in effect, with a new deadline of March 21, 2025 for most companies. FinCEN will assess its options for further modifying deadlines. "

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Here is the Official Notice from FINCEN.

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Sooooo...

• If you've already filed....You're good to go.
• If you haven't filed yet... You should probably get right on that!!

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Now, here's some good news ---> The US Treasury has also stated "it will ... not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect."

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Again, these 'rulings' and 'statements' seem to be as fluid as the ocean! So, if I were you, I wouldn't chance it. Just get the dang thing filed!

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For all the latest details, always check the FinCen website. Also, take a peak at the Journal Of Accountancy, (search for BOI) to see what they are reporting also, as they are usually pretty up to date on all things accounting related.

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And PLEASE, tell your business owner friends to JOIN MY NEWSLETTER so they too can be part of 'the cool kid club'.

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NEED HELP WITH BOI?
Reach out to a lawyer... this lawyer

NEED ASSISTANCE with BOI Filing? If you're just not sure how to file, or you'd rather someone else dealt with it for you, reach out to my friend and managing Partner, Miya Nazarro, of Nazzaro Law. Her firm offers this service for a small fee. She's seriously a rock star business lawyer that you want to know and have in your corner too! I promise!

Have a fantastic week!

Pam Greb
Owner | Certified CFO
​Cloud9 Financial​

You're receiving this newsletter because at some point or other, our paths have crossed. Maybe you're a client of mine, or you attending one of my webinars, or we met at a networking event. Whatever the reason, I'm so happy you're here! If for some reason you'd rather not hear from me :-( just click the UNSUBSCRIBE button below. But I sure do hope you'll stay.

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NOTE: None of the information in this newsletter should be considered legal or tax advice. I'm not a lawyer, nor am I a Tax Accountant, and I sure as heck don't play one on TV. So please ... always do your own research to verify whether your business needs to file or not.