Beneficial Ownership Information (BOI)

Susie Newman • November 15, 2024

Beneficial Owner Information report (BOIR)

Corporate Transparency Act (CTA). The CTA requires certain types of U.S. and foreign entities to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.


The CTA requires any entity that has been formed pursuant to registration with a state, tribal or foreign agency that is not otherwise exempt (a “Reporting Company”) to report to the US Treasury Financial Crimes Enforcement Network (“FinCEN”) certain information regarding its ultimate “Beneficial Owners” (which include persons who directly or indirectly control or own at least 25% of the entity as well as persons who exercise substantial control over the entity), through a Beneficial Ownership Information Report (a “BOIR ”). The failure to file or providing false or fraudulent information in a BOIR may result in substantial civil or criminal penalties.
 
Companies formed prior to January 1, 2024, must complete and file a BOIR by January 1, 2025. I am sharing this with you because you may be required to file a BOIR by this deadline.

It is our firm’s policy to not handle these types of filings. However, we have prepared a series of resources to help you understand:
The available exemptions from the requirement to file a BOIR;

How to determine what persons would be Beneficial Owners and the information needed to be obtained from them in order to file the BOIR; and


Filing Options:  The BOIR can be filed at BOI E-FILING (fincen.gov) at no cost.

I've included a Quick Reference Guide that you can download below, that I downloaded from the BOI E-Filing Website.

You can also reach out to another service provider for assistance with the filing, such as https://www.tax1099.com/

 
Please let me know if you have any questions.


-Susie Newman

President, SJ Rose Bookkeeping


< Older Post

Newer Post >

Why Right Now Is the Best Time to Sign Up for QuickBooks Online

By Susie Newman • August 18, 2026
If you've been on the fence about getting your business finances into a dedicated accounting platform, here's your sign — and your savings. QuickBooks Online is running a Summer Savings promotion through August 27th: 90% off for 3 months. That's a rare, significant discount that makes this the lowest entry point of the year. And here's the kicker: QuickBooks prices are increasing after the sale ends. Signing up now locks you in at the best possible rate. What Makes QuickBooks Worth It? QuickBooks Online is built for small businesses, freelancers, and self-employed professionals who want less chaos and more clarity when it comes to their money. From automated expense tracking and invoicing to real-time profit & loss reporting, it removes the guesswork from financial management. The Summer Sale Window Is Closing The promotion runs through August 27th only. After that, prices go up and this deal disappears. Whether you're a solopreneur trying to simplify tax time or a growing business that needs better financial visibility, now is the time to act.  👉 Get 90% off QuickBooks Online for 3 months here: https://quickbooks.partnerlinks.io/zoj4p4colsp3 Don't wait until the sale is gone to wish you'd taken action.

Is Your Business Ready for the Back Half of 2026?

By Susie Newman • July 17, 2026
July is here, which means summer is in full swing and the year is already more than halfway over. For small business owners, this is actually one of the most important moments on the financial calendar. The decisions you make right now about how you manage your money can make or break your Q3 and Q4. Here's how QuickBooks can help you finish the year strong. 1. Get a real-time snapshot of where you stand Before you can plan ahead, you need to know where you are. QuickBooks' built-in reporting lets you pull a mid-year profit & loss report in seconds — no accountant needed. See exactly what came in, what went out, and where there's room to tighten up before the back half of the year kicks off. 2. Stop chasing invoices during your busiest season Summer is the peak season for a lot of small businesses — more projects, more clients, more moving parts. QuickBooks lets you send professional invoices, set up automatic payment reminders, and track outstanding balances all in one place. So you get paid on time, even when things get hectic. 3. Keep your books clean now, so tax time isn't a nightmare later Here's the thing nobody talks about in July: the habits you build right now will determine how stressful tax season is. QuickBooks automatically categorizes transactions, syncs with your bank accounts, and keeps a running record of your income and expenses. A little organization now saves a lot of headaches in April. The second half of 2026 is yours. Start it with a clear picture of your finances. 👉 Get started with QuickBooks here: https://quickbooks.partnerlinks.io/zoj4p4colsp3