Wilson Sonsini is pleased to host Overview of FinCEN’s Beneficial Ownership Information Reporting Requirements and What You Need to Know, the first webinar in the 2024 College for Clients Series. The College for Clients Series is designed to help our clients address and manage some of the fundamental legal issues facing them today.

Please join us for this live webinar on the Financial Crimes Enforcement Network’s (FinCEN) new beneficial ownership information (BOI) regulations under the Corporate Transparency Act (CTA).

On January 1, 2024, FinCEN’s new BOI regulations went into effect. This set of regulations requires many companies created or registered to do business in the U.S. to file with FinCEN information about the company itself, the identity of and information about its “Beneficial Owners”, and for companies formed or registered on or after January 1, 2024, its “Company Applicants.” Companies created or registered to do business in the U.S. prior to January 1, 2024 have until January 1, 2025 to file their initial BOI report. Companies created or registered to do business in the U.S. in 2024 will have 90 days after creation or registration to file their initial BOI report. FinCEN expects that these new BOI regulations will affect “tens of millions” of entities in the first year alone. The failure to make accurate and timely filings under the BOI regulations may result in civil and criminal penalties.

Is your company required to file a BOI report?