What is the new requirement for LLC in 2024? - FinCEN Beneficial Ownership (BOI) Report - Penalties

FOR STEP-BY-STEP INSTRUCTIONS, SEE HERE:    • File The BOI Report Yourself Step-By-...  
EDIT: I misspoke about this being an annual filing - it is a one-time filing, unless you need to update the ownership information.
This video breaks down the new small business filing requirements with FinCEN.
It covers all of the common questions:
0:00 - Introduction
3:45 - What are the new requirement for LLC in 2024?
4:41 - Who needs to file a BOI report? What is a Beneficial Ownership Investment (BOI) report?
Do all LLCs need to file BOI?
6:26 - Who is exempt from BOI filing?
8:06 - When do you file the BOI report?
9:07 - What happens if you don't file a BOI report?
9:45 - Who is included in the beneficial owner?
11:08 - What is a FinCEN ID number?

BOI small business entity compliance guide (shown in the video): https://www.fincen.gov/sites/default/...

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