NOTICE: Failure to file Beneficial Ownership Information Report before the federal deadline may result in penalties of up to $591/day. 
Compliance with the Corporate Transparency Act (CTA) isn’t just about staying on the right side of the law—it’s about protecting your business from steep penalties, fines, and possible imprisonment. Let’s dive into the reporting deadlines you need to know and how you can avoid the risks of non-compliance.
Important Deadlines for BOIR Filing
Your filing deadline depends on when your business was formed:
- Existing Businesses (formed before January 1, 2024): You must file your Beneficial Ownership Information Report (BOIR) by January 1, 2025.
- New Businesses (formed on or after January 1, 2024): You must file within 90 days of receiving official confirmation of your company’s formation.
If any information changes, such as a change in ownership or control, you must update the report within 30 days.
What Are the Consequences of Missing the Deadline?
Failing to file or filing inaccurate information can result in severe civil and criminal penalties, including:
- Fines of up to $10,000,
- Daily fines of up to $500 for ongoing non-compliance,
- Imprisonment for up to two years.
These penalties can be devastating for any business. That’s why timely filing is essential.
How BOIR Reporting Service Can Help
With so much at stake, it’s critical to ensure your BOIR is filed accurately and on time. BOIR Reporting Service helps businesses meet these deadlines with personalized notifications, streamlined filing processes, and peace of mind knowing that your compliance is handled by professionals. Let us manage the complexities so you can avoid costly penalties.