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If your company was created or registered before January 1, 2024, you will have until January 1, 2025, to report BOI and be in compliance.
Confirm Registered Agent and Officer Preparation and filing Articles of Organization
Company Name Verification. Preparation and Filing of Articles of Organization. Includes EIN Filing.
Effective January 1, 2024, the Corporate Transparency Act (CTA) is requesting that most businesses operating in the United States submit a Beneficial Ownership Information (BOI) report to the Financial Crimes Enforcement Network (FinCEN). Non-compliance can result in significant civil and criminal penalties, including fines of up to $10,000. My Florida Corp Filings offers expert assistance in navigating the complexities of BOI reporting. Our team of experienced professionals will ensure your filing is accurate, compliant, and submitted on time, mitigating potential risks for your business. Contact us today to learn more about our comprehensive BOI reporting services and secure your company's compliance with the CTA.
The Corporate Transparency Act (CTA) establishes distinct deadlines for filing Beneficial Ownership Information (BOI) reports based on the date of a company's formation or registration. For companies in existence before January 1, 2024, the initial BOI report must be filed with FinCEN no later than January 1, 2025. Companies formed or registered between January 1, 2024, and December 31, 2024, have 90 calendar days to file their initial report. This 90-day period commences upon the earlier of: (a) the company receiving actual notice of its effective creation or registration, or (b) public notice of the creation or registration being issued by the relevant authority (e.g., Secretary of State). Companies formed or registered on or after January 1, 2025, are subject to a shorter deadline of 30 calendar days following the earlier occurrence of actual or public notice of their effective creation or registration.
Under the Corporate Transparency Act (CTA), a "beneficial owner" is defined as any individual who, either directly or indirectly:
1. Exercises substantial control over a reporting company; or
2. Owns or controls at least 25 percent of the ownership interests of a reporting company.
This definition encompasses individuals with significant influence over a company's operations or a substantial ownership stake, regardless of their formal title or position.
The following entities are exempt from submitting a filing: Securities reporting issuer. Governmental Authority Bank Credit Union Depository institution holding company, Money services business Broker or dealer, Securities Securities Exchange or clearing agency. Other Exchange Act registered entityInvestment company or investment adviser, Venture capital fund adviserInsurance companyState-licensed insurance producerCommodity Exchange Act registered entityAccounting firmPublic utilityFinancial market utilityPooled investment vehicleTax-exempt entityEntity assisting a tax-exempt entityLarge operating companySubsidiary of certain exempt entitiesInactive entity
In the case that you are not sure if you need to file a BOIR please call our office at (833) 854-0833 or email your inquiry to [email protected].
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My FL Corporate Filings LLC is a document filing service. We are not a law firm and cannot offer legal advice. The information on our website is for general informational purposes only and is not legal advice. Use of the website is subject to our Terms of Service and Privacy Policy.