BENEFICIAL Ownership Information (BOI) Reporting

A Beneficial owner is an individual who directly or indirectly owns or controls 25% or more of the ownership interest of a reporting company. They might also directly or indirectly exercise substantial control over it. 

Financial penalties of up to $591 per day for non-compliance, with a cap of $10,000, plus imprisonment. 

Existing Companies:  January 1st, 2025

New Reporting Companies:  Within 90 days

Change of Information:  Within 30 days