The BOI Law mandates that all businesses, including small enterprises, report details about their beneficial owners. These are individuals who directly or indirectly own or control a significant portion of the company, typically anyone holding 25% or more of the company's shares or voting rights. This legislation aims to increase transparency, combat financial crimes, and foster a fairer business environment. 

The deadline for submitting your BOI report is January 1, 2025. Non-compliance could lead to severe consequences, including:

• Significant Financial Penalties: Failure to meet the deadline will result in a penalty fee of $500 per day until compliance is achieved.
• Business Shutdown: Persistent non-compliance could lead to more drastic measures, including the potential shutdown of your business.

• Businesses created or registered on or after January 1, 2024, and before January 1, 2025, have 90 calendar days from receiving actual or public notice of their creation or registration to file their initial BOI reports. This period starts from the time the company receives actual notice of its creation or registration or after a secretary of state or similar office first provides public notice of its creation or registration, whichever is earlier.
• Businesses created or registered on or after January 1, 2025, have 30 calendar days from actual or public notice of their creation or registration to file their initial BOI reports.

• Consult with a Legal Advisor: Given the legal implications, it's advisable to consult with a legal advisor to understand your specific obligations under the BOI Law.
• Gather Necessary Information: Collect all required details about your beneficial owners, ensuring the information is accurate and up-to-date.
• Submit Your Report: Ensure your report is submitted through the designated platform by the appropriate deadline. You can file your report online at https://www.fincen.gov/boi.

Compliance Consulting Services for BOI Law:  - Initial evaluation and strategy development - Guidance through the reporting process - Deadline management - Exemption analysis and advisory - Ongoing compliance monitoring  Stay compliant with the help of a compliance consultant. 

Documentation Support Services:  - Assist in gathering and verifying required documents for BOI compliance. - Manage ownership records and update them as needed. - Provide secure filing and storage services for BOI-related documents. - Offer training on documentation standards and provide templates for consistency. - Support businesses with complex ownership structures and unique challenges.