Reminder! Deadline Looms for Businesses for U.S. Beneficial Ownership Registration
The Beneficial Ownership Information Report (BOIR) is a new requirement under the Corporate Transparency Act (CTA) for U.S. businesses. It’s designed to increase transparency in business ownership and help combat financial crimes.
1166 FCU would like to remind all business owners of the looming deadline to file: January 1st, 2025.
Additionally, it's required by law for all business account holders at 1166 FCU to provide a copy of their Beneficial Ownership Information documents for the Credit Union's files.
All existing business account holders must register by January 1, 2025. The fine is $500 per day, up to $10,000 per instance.
Click below to register!
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