The Corporate Transparency Act (CTA), which became effective in 2024, requires many businesses to report their beneficial ownership information (BOI) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). The primary goal is to combat money laundering, tax evasion, and other illicit activities by creating greater transparency regarding business ownership.

Businesses Most Affected by the Corporate Transparency Act:

1. Small Corporations and LLCs: The CTA particularly affects small, privately held companies and LLCs with minimal compliance requirements previously. These include:
   • Single-member LLCs
   • Small family-owned businesses
   • Shell companies
2. Newly Formed Entities: New businesses must file beneficial ownership reports within 30 days of formation.
3. Existing Corporations/LLCs: Companies formed before the act’s enforcement will also need to file reports, giving them a transition period for compliance.
4. Inactive Businesses: Entities that may be inactive but still formally registered must report ownership unless exempted.
5. Non-exempt Domestic and Foreign Entities: Any U.S. or foreign company that is registered to do business in the U.S. but does not fall under certain exemptions (e.g., large companies, heavily regulated entities like banks, publicly traded companies) must report.
6. Small Investment Firms, Trusts, and Partnerships: If structured in a way that they do not fall under any exemptions, these entities will also need to comply.

Exempt Entities:

• Large operating companies (with over 20 employees and more than $5 million in revenue)
• Entities already regulated by the government (such as banks or publicly traded companies)
• Certain inactive entities

Did you know failing to file your Beneficial Ownership Information (BOI) Report on time could cost your business $591 a day in penalties? Yes, you read that right! On top of that, you risk serious civil and criminal penalties. Don’t let this important task fall through the cracks—Seal of Approval Mobile Notary Services Sacramento is here to ensure your filing is done quickly, accurately, and on time.

Why Urgency Matters:

1. Avoid Costly Fines: Every day you delay filing could mean $591 in penalties piling up! Don’t let your business suffer financially due to something avoidable.
2. Steer Clear of Legal Trouble: Not filing your BOI report could lead to civil and criminal penalties. Ensuring compliance isn’t just about money—protect your business from legal consequences.
3. Corrective Filings: If you’ve already filed but made an error, act now to correct it before penalties hit. We specialize in handling both initial filings and corrective reports.
4. Fast, Mobile Service: Time is ticking, and we know your schedule is packed. Our mobile notary service comes directly to you, wherever you are, to make sure your report is filed immediately and stress-free.

📝 What You Risk by Not Filing:

• $591 per day in fines 🕑
• Civil and criminal penalties ⚖️
• Compliance headaches that could damage your business reputation 📉

Don’t risk heavy penalties or legal trouble. If you need to file your initial or corrective BOI report, trust Seal of Approval Mobile Notary Services Sacramento to get it done right away—accurately and efficiently.

📞 Call or text us today at 916-800-3970 to schedule your BOI filing and avoid those crushing fines! 🏢📋 #BOIFilingUrgency #AvoidPenalties #MobileNotarySacramento