Beneficial Ownership Information Reporting Requirement
!! IMMEDIATE ACTION REQUIRED !!
Our records reflect that you do business through a business entity in which you own an interest.
New Federal law known as the CORPORATE TRANSPARENCY ACT (CTA) was recently enacted.
Under the CTA:
Many businesses are required to report specific “beneficial owner” information to the Financial
Crimes Enforcement Network (FinCEN)
A Beneficial Ownership Information Report (BOIR) containing the required information must be
filed with FinCEN not later than JANUARY 1, 2025
Required information in the BOIR may include the following for each “beneficial owner”:
Full legal name
Date of birth
Current residential or business address
Unique identifying number (e.g., passport or driver's license number)
FAILURE TO FILE A BOIR CAN RESULT IN PENALTIES OF UP TO $592 PER DAY
COOVER LAW FIRM, LLC DOES NOT FILE BENEFICIAL OWNERSHIP INFORMATION
REPORTS FOR ITS BUSINESS CLIENTS OR PROVIDE ADVICE REGARDING THE SAME.
PLEASE BE CERTAIN TO IMMEDIATELY:
see these links for more information:
Corporate Transparency Act
31 U.S.C. 5336 (Beneficial ownership information reporting requirements)
discuss the CTA requirements with your accountant/CPA/Tax Professional in order to
determine whether they have or will file a BOIR for your company; and
make certain that a BOIR for each of your business entities is filed with FinCEN (if required)