Beneficial Owners (shareholders/partners who own at least 25% of an entity) now have less than 90 days to complete the form without incurring a Civil penalty up to $591/day beginning in January 2025.
Greetings from Killingsworth Spencer CPAs, Lynn Spencer here. Earlier this year, we wrote a post detailing BOI. You may read that here – BOI Post
If you own a Georgia business, you may have received an email from the GA Secretary of State Corporations Division reminding you to complete the BOI registration. You can do it now by clicking here – https://www.fincen.gov/boi. This should take about 10 minutes to complete.
Please note the following disclaimer from the GA SOS Office: “Our office is not collecting this information, nor do we have access to the information reported to FinCEN. The Secretary of State’s staff cannot provide information, advice, or legal counsel regarding FinCEN’s beneficial ownership information reporting requirements. Please contact FinCEN if you have any questions or concerns.”
If you have questions or concerns regarding this or any other tax matter, please call us at 770-552-8286.
Disclaimer: This post is for general information only and should not be taken as legal or financial advice