The REALLY USEFUL Guide to the New Beneficial Ownership Information (BOI) Report
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- เผยแพร่เมื่อ 13 ก.พ. 2024
- This video is a must-watch for LLC owners, offering a comprehensive guide to the new Beneficial Ownership Information Report (BOI), a requirement effective from 2024. We cover everything you need to know about how this new legislation specifically impacts LLCs, outlining the steps for compliance and the penalties for failure to report. Stay informed and ensure your LLC adheres to these crucial legal updates.
TIMESTAMPS
0:55 1 What is Beneficial Ownership Information
1:40 2 Does My Company Have to File
2:19 3 What Companies are Exempt
2:47 4 What is a Large Operating Company
3:42 5 What Happens if my Company Does Not File
4:20 6 Who is a Beneficial Owner
5:02 7 Who Will have Substantial Control
5:32 8 What is an Ownership Interest
5:56 9 Does My Company Have to Report its Applicants
6:46 10 Who is a Company Applicant
7:44 11 What Info has to be Reported
9:11 12 What's a FinCEN Identifier and how to use
9:41 13 When Should My Company File
10:51 14 How Does My Company File
12:10 15 Keep Your Info Current
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#corporatetransparency #beneficialownership #compliance2024 #businessregulation #financialreporting - แนวปฏิบัติและการใช้ชีวิต
Great information!!!
We're happy to help. Thanks for subscribing!
🎉 thank u for sharing
Happy to help!
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Smart and very beautiful ❤
I opened a non-USA residential LLC in the state of NH. My LLC is approximately 9 months old, and I have not opened any business bank account or conducted any business on Amazon through my LLC. I have not made any transactions through my LLC. Now, I want to close my LLC permanently, but I am confused about the BOI. Is it compulsory for me to submit the BOI before disclosing my LLC, or not?
I think you had to close it before the 1st of the year, 2024.
@@wordswithatwist mam i want to close now .and i have doubt related to BOI.Is it mandatory to submit BOI before disclose my llc
@@akbarpasha9753 I do not know. I would talk to an accountant.
It appears that you will need to file the BOI. Here are the guidelines:
An LLC will not have to file a BOI Report if it is exempt, which it can be if it is ‘inactive’. To satisfy the inactive test, all the following must hold true:
1. The LLC was in existence on or before January 1, 2020.
2. The LLC is not engaged in active business.
3. The LLC is not owned by a person, who is not a U.S. citizen or resident, whether directly or indirectly, wholly or partially.
4. The LLC has not experienced any change in ownership in the preceding twelve-month period.
5. The LLC has not sent or received any funds in an amount greater than $1,000, either directly or through any financial account in which the entity or any affiliate of the entity had an interest, in the preceding twelve-month period.
6. The entity does not otherwise hold any kind or type of assets, whether in the United States or abroad, including any ownership interest in any corporation, limited liability company, or other similar entity.
(per the BOI Small Entity Compliance Guide, p.14): www.fincen.gov/sites/default/files/shared/BOI_Small_Compliance_Guide.v1.1-FINAL.pdf
Please note that the information provided by us is not, and it is not intended to, constitute legal advice or tax advice. For the most up-to-date legal advice, we advise deferring to a professional attorney or certified public accountant.
Is real estate services exempt?
Hi, thanks for the question. Most exemptions involve securities, finance, and insurance. It does not appear that real estate has any specific exemptions but there may be others that you could qualify for. Here is full list of exemptions:
www.northwestregisteredagent.com/boi-reporting/exemptions
I think fincen is not going to be a thing soon
Just more Big Brother crap.