Product Description
Do you own 25% or more of a business OR exercise substantial control over a business? If so, you may be required to file a report
including beneficial ownership information under the United State Treasury’s Financial Crimes Enforcement Network (“FINCEN”) beginning on January 1, 2024. Failure to file may subject reporting companies with fines of up to $500.00 per day, up to $10,000 and possible imprisonment of 2 years. This new reporting requirement is part of the Anti-Money Laundering Act in an effort to
further protect the U.S. national security and the U.S. financial system. We will discuss:
- who is required to file the report
- what information will be required to be filed
- where and how will you file the report
- what are the deadlines for filing are
12/2023