ATTENTION SMALL AND MINORITY BUSINESS OWNERS: Add Your Small Business to the U.S. Beneficial Ownership Information (BOI) Registry TODAY!

The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) is requiring small businesses to report information about the individuals who own or control them.

Filing is simple, secure, and free of charge. Companies that are required to comply must file their initial reports by the following deadlines:

  • Existing Companies: Due January 1, 2025

  • New Companies Must File Within 90 Days of Creation or Registration (on or after January 1, 2024)

What happens if you don’t file a BOI?

Violators are subject to a civil penalty of up to $500 for each day the violation continues, and criminal fines of up to $10,000, imprisonment for up to two years, or both.

Learn more at: https://www.fincen.gov/boi

Need technical assistance on registering your small business to the BOI? Contact the Northside Economic Empowerment Center (NEEC) to schedule an appointment at 314.617.0360. NEEC staff can assist you with access to the BOI registry, but cannot offer legal advice whether your firm is subject to registration requirements or information which must be disclosed. For additional instruction about reporting requirements, please visit https://www.fincen.gov/boi and see the facts sheets and guides provided by FinCEN which are linked below.

Beneficial Ownership Information

The NEEC is funded in whole or in part with Coronavirus State and Local Fiscal Recovery Funds (SLFRF) passed through the City of St. Louis Community Development Administration.