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Beneficial Ownership Information BOI / Corporate Transparency Act CTA
The following FAQ serves as a convenient reference. Please be aware that the details provided are for informational purposes only and do not modify any legal responsibilities outlined by laws or regulations. For precise legal information, please consult FinCen directly.
What is the Beneficial Ownership Information Report?
What is the Corporate Transparency Act?
Who can be held liable for violating BOI reporting requirements?
What penalties do individuals face for violating BOI reporting requirements?
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 companies will be required to report beneficial ownership information to FinCEN?
Under the Corporate Transparency Act, who can access beneficial ownership information?
Why do companies have to report beneficial ownership information to the U.S. Department of the Treasury?
Adding Beneficial Owners to a Filing