[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-304747-105":53,"doc-detail-304747-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","new-federal-reporting-requirement-for-beneficial-ownership-information","New Federal Reporting Requirement for Beneficial Ownership Information","","Explains the Corporate Transparency Act (CTA) beneficial ownership reporting requirement enacted under the National Defense Authorization Act. Describes which companies must file BOI reports with FinCEN, and when the reporting obligations take effect for entities formed before 2024, in 2024, and on or after January 1, 2025. Covers who qualifies as a reporting company, key exemption categories, and additional details for large operating companies and tax-exempt entities, including timelines and updating obligations after status changes.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/new-federal-reporting-requirement-for-beneficial-ownership-information/304747/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/new-federal-reporting-requirement-for-beneficial-ownership-information/304747.png","ImageObject",442,249,{"name":88,"@type":89},"Fez","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-27","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":73},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"When do CTA beneficial ownership reporting requirements take effect?","Question",{"text":108,"@type":109},"The reporting requirements come into effect on January 1, 2024. Entities formed prior to that date have until January 1, 2025 to comply.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What filing deadline applies for an initial BOI report for 2024-formed or 2024-registered entities?",{"text":113,"@type":109},"A domestic reporting company formed in 2024 must file within 90 calendar days of receiving notice that formation became effective or the first public notice, whichever occurs first. A foreign reporting company becoming registered in 2024 must file within 90 calendar days of receiving actual notice of registration or the first public notice, whichever occurs first.",{"name":115,"@type":106,"acceptedAnswer":116},"Who is exempt from reporting beneficial ownership information and what special rule applies to tax-exempt entities?",{"text":117,"@type":109},"The CTA lists 23 categories of exempt entities. Tax-exempt entities are exempt from CTA filing, but if they lose tax-exempt status, they must report beneficial ownership information to FinCEN within 180 days.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},304747,1790499867,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":73,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":76},2336478940794,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","New Federal Reporting Requirement for Beneficial Ownership Information  \nThe Corporate Transparency Act (“CTA”) was enacted by Congress on January 1, 2021, as part of the National Defense Authorization Act. The CTA includes significant reforms to anti-money laundering laws and is intended to help prevent and combat money laundering, terrorist financing, corruption, and tax fraud. The CTA establishes a beneficial ownership reporting requirement for corporations, limited liability companies, and other similar entities formed or registered to do business in the United States. Beneficial ownership reports must be filed with the Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of Treasury.  \nWhen does the CTA take effect?  \nThe reporting requirements under the CTA come into effect on January 1, 2024. Business entities formed prior to such date will have until January 1, 2025, to comply with the CTA’s reporting requirements.  \nWhen is the initial beneficial ownership information (BOI) report required to be filed with FinCEN?  \nA domestic reporting company formed prior to January 1, 2024, and an entity that registered as a foreign reporting company prior to January 1, 2024, must file an initial report by January 1, 2025.  \nAny domestic reporting company formed in 2024, must file a BOI report within 90 calendar days of either receiving actual notice that its formation has become effective or the secretary of state or similar office first providing public notice that it has been formed, whichever occurs first.  \nAny entity that becomes a foreign reporting company in 2024, must file a BOI report within 90 calendar days of either receiving actual notice that it has been registered to do business or the Secretary of State or similar office first providing public notice that it has been registered, whichever occurs first.  \nReporting companies formed or registered on or after January 1, 2025, will have 30 calendar days to file their initial BOI reports after receiving actual or public notice that the entity has been formed or registered, whichever occurs first.  \nWho is required to report beneficial ownership information (“BOI”)?  \nCertain businesses, referred to by FinCEN as “reporting companies,” will be required to report beneficial ownership information to FinCEN. Reporting companies include domestic and foreign (formed outside the U.S.) businesses.  \nDomestic reporting companies are corporations, limited liability companies, and other entities that are formed by filing a document with a secretary of state or any similar office under the law of a state or Indian tribe.  \nForeign reporting companies are corporations, limited liability companies, and other entities that are formed in a foreign country and are registered to do business in the United States or in any Tribal jurisdiction by submitting a document with the secretary of state or any similar office under the law of a U.S. state or Indian tribe.  \nA reporting company is required to file the BOI report unless an exemption applies.  \nWho is exempt from reporting requirements?  \nThe CTA lists 23 categories of entities that are exempt from reporting. View the list of exemptions here:  \n[https://www.fincen.gov/boi-faqs](https://www.fincen.gov/boi-faqs)  \nMany of the exempt categories are already subject to similar regulation such as banks, credit unions, tax-exempt entities, public utilities, and large operating companies.  \nBusiness entities that do not fall within the scope of the reporting requirements include sole proprietorships, some general partnerships, foreign entities not registered to do business in the U.S., unincorporated associations, and wealth planning trusts.  \nA “large operating company” is exempt from reporting requirements. What is considered a “large operating company”?  \nFor an entity to qualify as a “large operating company”, the following criteria must be met:  \n• Employs more than 20 full-time employees in the United States. ","cbCainOG3KQ8QxqS","https://ap.wps.com/l/cbCainOG3KQ8QxqS","pdf",189828,7,"English","# Beneficial ownership reporting requirement\n## CTA effective date and compliance deadlines\n## Initial BOI report filing timelines\n## Reporting companies and required exemptions\n## Large operating company criteria\n## Tax-exempt entity treatment and updates","[{\"question\":\"When do CTA beneficial ownership reporting requirements take effect?\",\"answer\":\"The reporting requirements come into effect on January 1, 2024. Entities formed prior to that date have until January 1, 2025 to comply.\"},{\"question\":\"What filing deadline applies for an initial BOI report for 2024-formed or 2024-registered entities?\",\"answer\":\"A domestic reporting company formed in 2024 must file within 90 calendar days of receiving notice that formation became effective or the first public notice, whichever occurs first. A foreign reporting company becoming registered in 2024 must file within 90 calendar days of receiving actual notice of registration or the first public notice, whichever occurs first.\"},{\"question\":\"Who is exempt from reporting beneficial ownership information and what special rule applies to tax-exempt entities?\",\"answer\":\"The CTA lists 23 categories of exempt entities. Tax-exempt entities are exempt from CTA filing, but if they lose tax-exempt status, they must report beneficial ownership information to FinCEN within 180 days.\"}]","New Federal Reporting Requirement for Beneficial Ownership Information | PDF",1789816835]