Attention to all LLC/Corporation owners!

Starting January 1, 2024, there's a new regulation that you need to know about: Beneficial Ownership Information Reports (BOIR). It's time to get informed!

What does this mean for you? If you own any company, even LLCs or Corporations simply holding your property, you're now obligated to submit beneficial ownership information reports to FinCEN.

Don't risk hefty fines and penalties - stay ahead and educate yourself about the BOIR requirements to ensure compliance and avoid any legal troubles.

Got questions? Feel free to reach out to me:

Philippa Ward

Global Real Estate Advisor

M: 1 917-331-1730

philippa.ward@evrealestate.com

Or visit FinCEN’s website:

https://boiefiling.fincen.gov/help

Important facts about the BOIR

• Even LLC’s or Corporations only holding your property are considered companies and must be registered!

• Starting on January 1, 2024, companies are obligated to submit beneficial ownership information reports to FinCEN.

• Existing companies have 1 year to file.

• Companies created in 2024 and beyond must file within 90 days of creation or registration.

• Reporting companies must provide details for each beneficial owner: Name, Date of Birth, Address, Identifying number, and issuer form.

Who does NOT need to submit a BOIR?

When and how to make a BOIR?

• Companies registered before January 1, 2024, have until January 1, 2025, to report.

• Companies registered in 2024 have 90 calendar days to report.

• Companies registered after January 1, 2025, will have 30 calendar days to report.

• Report electronically through a secure filing system available via FinCEN’s BOI E-Filing website: https://boiefiling.fincen.gov

More Information

To find out more about details, exemptions and more, visit the Financial Crimes Enforcement Networks' website: https://boiefiling.fincen.gov/help

Philippa Ward

Broker Associate

Engel & Völkers St. Helena

1111 Main Street, Suite A

St. Helena, CA 94574

9173311730

Philippa.Ward@evrealestate.com