Attention Business Owners: New Reporting Requirements with SIGNIFICANT Penalties!
Starting now, failing to comply with the new beneficial ownership reporting requirements could cost you $591 per day past due, a $10,000 fine, and potentially 2 years in prison.
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has launched a nationwide PSA campaign to educate the small business community about these new rules. TV, radio, digital, and print ads are being used to reach business owners and ensure compliance.
Key Highlights:
Nationwide PSA Campaign: TV and radio announcements to spread awareness.
Beneficial Ownership Reporting: Essential for transparency and legal compliance.
Educational Outreach: Visit fincen.gov/BOI for detailed information on filing requirements.
Stay informed and compliant to avoid severe penalties. At PlushStone Advisory, Tax & Accountancy, we can help you navigate these new requirements and keep your business compliant.
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