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Dynamic Compliance Inc

CORPORATION

Call DCI at 678-914-4637 to discuss your specific needs.  We will assist you in determining if an incorporation or LLC will be best for your company’s needs.  

Overview of Beneficial Ownership Information Reporting Requirements Under the Federal Corporate Transparency Act (CTA)

Beginning January 1, 2024, the federal Corporate Transparency Act (CTA) requires certain types of entities to file a beneficial ownership information (BOI) report with the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of Treasury.

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Each “reporting company” must file a BOI report with FinCEN. As defined by the CTA, a “reporting company” means a corporation, limited liability company, or other similar entity that is created or registered to do business in the U.S. by filing a document with a secretary of state (or comparable office).

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The CTA contains other important definitions; lists certain exemptions; specifies reportable information; and imposes both civil and criminal penalties for violations of the reporting requirements.

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​The beneficial ownership information required by the CTA should only be submitted directly to FinCEN through its online Beneficial Ownership Secure System (BOSS).
 

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For additional information, please review the FinCEN resources listed below.

If you need further assistance understanding the CTA reporting requirements, you may wish to consult with a private attorney.

This overview and the resources provided are for general informational purposes only and are not intended as legal advice or as a substitute for the advice of an attorney.

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