Resources

FinCEN carries out its mission by receiving and maintaining data on certain financial transactions, primarily involving suspicious activity or large amounts of cash. The links on this page provide information for financial institutions, as well as individuals seeking to learn how FinCEN collects, analyzes, and disseminates data reported under its regulations in support of government and financial industry partners at the Federal, State, local, and international levels.

What is a Beneficial Ownership Information Report (BOIR)

As of January 1st, 2024, owners of U.S. businesses are required to comply with new rules set out by "The Corporate Transparency Act (CTA)". The CTA is a federal law that requires business entities to report details about their ownership to the Financial Crimes Enforcement Network (FinCEN). Failure to file your BOIR before the deadline will result in penalties of up to $500 per day.

When is the deadline?

The deadline for filing your BOIR is January 1st, 2025. To avoid penalties, make sure to file your BOIR before this date to avoid penalties.

Am I exempt from filing?

Certain entities are exempt from filing the BOIR. These include:

• Publicly traded companies
• Non-profit organizations
• Entities that employ more than 20 people and have reported more than $5 million in gross receipts and sales to the IRS