Corporate Transparency Act

Starting January 1, 2024, millions of companies will be required to file a Beneficial Ownership Information (BOI) Report as determined in the Corporate Transparency Act. Compliance is mandatory and companies that don’t comply face potential fines of $500 for every day they are not in compliance and even jail time.This short quiz will quickly tell you if your business is subject to this reporting requirement – no strings attached. Just answer the questions and you will get your result.*

* Please note that this resource is offered as general guidance and is not intended to be a substitute for legal advice or consultation.

Corporate Transparency Act

Was your company formed in the United States, or is registered to do business in the U.S.?

Is your company a corporation or a limited liability company?

Does FinCEN classify your company as an inactive entity?

Does your company fall under any of the following categories?

Does FinCEN classify your company as a large operating company? (company with more than 20 full time employees and demonstrating more than 5 million in gross receipts in previous year)

Likely Required to File

Not Likely required to file