For authors with an LLC, a reminder about your Beneficial Ownership Information Report (BOIR)

The Corporate Transparency Act of 2019 mandates every LLC needs to file a Beneficial Ownership Information Report (BOIR) with the Federal Crimes Enforcement Network. This provides a paper trail to the government revealing the individual(s) behind the LLC who receives financial benefit from the business. (By the way, this also applies to partnerships and S corps.) This helps the government combat money laundering and terrorism financing through the use of LLCs.

If you own an LLC, you have until December 31, 2024, to fill out the paperwork.

Full blog post from agent Steve Laube: https://stevelaube.com/for-authors-with-an-llc/