The BOl reporting deadline for existing companies is approaching quickly. Existing companies (those formed before January 1, 2024) have less than four months to fulfill their beneficial ownership information (BOl) reporting obligations.
Under the Corporate Transparency Act (CTA), millions of businesses registered to operate in the United States must report information about their beneficial owners. That is, the individuals who ultimately own or control the company. It is crucial to remain compliant as failure to do so can lead to significant fines and even imprisonment.
If your company was established or registered before 2024, you must file your BOl report by no later than January 1, 2025.
At Parasec, we offer assistance to ensure you meet this compliance requirement on time and with confidence. We recommend compiling the necessary documents beforehand to help streamline your filing process. Download our BOl Filings Prep Checklist to get started.
Ready to file your BOl report? Contact our BOl specialists at BOl@parasec.com.