WHO:

Who is required to report? Companies required to report are called reporting companies. There are two types of reporting companies:

• Domestic reporting companies are corporations, limited liability companies, and any other entities created by the filing of a document with a secretary of state or any similar office in the United States.

• Foreign reporting companies are entities (including corporations and limited liability companies) formed under the law of a foreign country that have registered to do business in the United States by the filing of a document with a secretary of state or any similar office.

Who is exempt? Please refer to section C. 1. for exempt entities.

WHAT:

The Corporate Transparency Act (CTA) was enacted to promote business entity transparency and mitigate the misuse of business entities for illegal activities such as money laundering, terrorist financing, and tax evasion.

WHEN:

Businesses created or registered to do business:

• Before January 1, 2024 will have until January 1, 2025 to file.

• On or after January 1, 2024 but before January 1, 2025 will have 90 calendar days to file.

• On or after January 1, 2025 will have 30 calendar days to file.

• Changes to your information? 30 calendar days to update the filing.

WHERE:

The official website for filing is https://www.fincen.gov/boi or you can have SMK take care of this for you!

How:

SMK Business Solutions can take this headache away and take care of the filing for you for just $50. Just click the button below and fill out the needed information and we will make sure you are compliant!