As of January 1, 2024, many companies doing business in the United States must report information about their beneficial owners – the individuals who ultimately own or control the company – to the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).
Companies that are required to comply (“reporting companies”) must file their initial reports by the following deadlines:
- Existing companies: Reporting companies created or registered to do business in the United States in 2024 before January 1, 2024 must file by January 1, 2025.
- Newly created or registered companies: Reporting companies created or registered to do business in the United States in 2024 have 90 calendar days to file after receiving actual or public notice that their company’s creation or registration is effective.
Beneficial ownership information reporting is not an annual requirement. A report only needs to be submitted once, unless the filer needs to update or correct information.
Learn more about beneficial ownership reporting at www.fincen.gov/boi.