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All CollectionsBeneficial Ownership Information BOI / Corporate Transparency Act CTA
What happens if a reporting company does not report beneficial ownership information to FinCEN or fails to update or correct the information within the required timeframe?
What happens if a reporting company does not report beneficial ownership information to FinCEN or fails to update or correct the information within the required timeframe?
Adam Cook avatar
Written by Adam Cook
Updated over 8 months ago

If you correct a mistake or omission within 90 days of the deadline, you may avoid penalties. However, failing to meet your obligations can lead to civil and criminal penalties.

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