If I'm reading this correctly, then just about everybody in the USA that works at a private C corp or LLC has to file this report.<p>And if you haven't done so already, the deadline is Jan 1st, 2025.<p>From the FAQ:<p>> What penalties do individuals face for violating BOI reporting requirements?<p>> As specified in the Corporate Transparency Act, a person who willfully violates the BOI reporting requirements may be subject to civil penalties of up to $500 for each day that the violation continues. However, this civil penalty amount is adjusted annually for inflation. As of the time of publication of this FAQ, this amount is $591.<p>> A person who willfully violates the BOI reporting requirements may also be subject to criminal penalties of up to two years imprisonment and a fine of up to $10,000. Potential violations include willfully failing to file a beneficial ownership information report, willfully filing false beneficial ownership information, or willfully failing to correct or update previously reported beneficial ownership information.<p>So if you forget until the end of 2025, that's $215,715 in fines.
Enforcement blocked today by a court:<p><a href="https://www.cir-usa.org/2024/12/judge-orders-nationwide-injunction-against-enforcement-of-cta/" rel="nofollow">https://www.cir-usa.org/2024/12/judge-orders-nationwide-inju...</a>