Hi Reader!

For over a decade, my advice about keeping your LLC (or corporation) legit hasn’t changed until this year. On January 1, 2024, a new law went into effect that requires LLCs and corporations to report their ownership information.

The short version is if you are an LLC or corporation, you must file a report with the Financial Crimes Enforcement Network (FinCEN) to tell them who owns your LLC or corporation.

Your windows to file this report are:

• January 1, 2025, if your LLC was created on or before December 31, 2023
• 90 days from your LLC being approved by your state, if your LLC is created in 2024 (January 1 to December 31)
• 30 days from your LLC being approved by your state, if your LLC is created anytime after January 1, 2025

The form you are required to complete is called the Beneficial Ownership Information Report (BOIR). I created a handy step-by-step BOIR tutorial for you that tells you:

• How to decide if you need to file
• What you need to gather to file
• Screen-by-screen instructions on how to fill out the form
• When you need to update the form

Head here to follow along with the BOIR tutorial.

I'll be sitting at my computer until about 9:30 AM Pacific and I'd love to know any questions you have about this form, or creating and maintaining an LLC. (And if you are reading this after then, please reply! I'll get back to you ASAP.)

Chat soon,

P.S. Not sure how to keep your LLC legit? Check out my book, LLC For Your Creative Business. It covers the BOIR plus everything else expected of LLC owners. Buy it now on Amazon.

❤️ Easy to understand legal resources should be available to every creative, regardless of their financial situation. If one of my resources has helped you and you would like to say “thank you”, you can make a contribution here. ❤️