FinCEN has published a small entity compliance guide to assist small businesses in complying with the beneficial ownership information reporting rule, which takes effect on Jan. 1, 2024. According to the agency, the guide describes each of the BOI reporting rule’s provisions in easy-to-read language, answers key questions, and provides interactive checklists, infographics, and other tools to assist businesses in compliance.

This guide is specifically for businesses that will be required to report their beneficial ownership information and is not intended for financial institutions. That being said, you may find helpful information about the rule within the guide.

You can access the guide here. 

CCI suggests sharing this information with your BSA Officer. As always, CCI is available for any questions.