LegalZoom Launches Beneficial Ownership Information Report to Help Businesses Satisfy New Federal Mandate under the Corporate Transparency Act
04 Janeiro 2024 - 11:00AM
LegalZoom, the No. 1 choice in online small business formations,
announced the release of its Beneficial Ownership Information
Report, a new addition to LegalZoom's ecosystem of compliance
services. The new service helps customers satisfy the federally
mandated beneficial ownership information reporting rule under the
Corporate Transparency Act, which went into effect on January 1,
2024. According to the Financial Crimes Enforcement Network
(“FinCEN”), a bureau of the United States Department of Treasury,
89% of all business entities must file identifying information with
FinCEN about the individuals who own or control a business.
The Corporate Transparency Act is one of the most important
legislations to impact small business owners. This new rule
supports the ongoing focus and efforts of the U.S. Government to
deter those who would hide or benefit from actions that would harm
others, aiming to prevent financial crimes and fraud, such as money
laundering, human trafficking, drug trafficking, tax fraud, and
fraud against employees, customers, and other businesses.
Business owners who fail to comply with this law, such as
failure to file timely or correctly, can face severe criminal and
civil penalties, which can include imprisonment for up to two years
and/or fines up to $10,000, and civil fines of up to $500 per day.
Business entities formed before January 1, 2024 will have until
December 31, 2024 to file, those formed on or after January 1, 2024
will have 90 days after formation to file, and those formed on or
after January 1, 2025 will have 30 days to file. Business entities
that amend their formation documents or change their residential
address or ID on or after January 1, 2024 will have 30 days to
submit an updated report.
LegalZoom’s Beneficial Ownership Information Report service,
which is available now, aims to bring small business owners
confidence in their compliance with this new law, helping
businesses stay on top of the requirement with notifications
leading up to their filing deadline. Once it’s time to file,
LegalZoom’s simplified questionnaire and guided process delivers a
customized report that meets all federal requirements. LegalZoom
then timely and accurately files the report with the government,
and businesses receive confirmation that the report was
successfully filed with FinCEN.
"Business owners can save time navigating the complexities of a
new federal law and gain peace of mind with our customized and
compliant filings. In a few simple steps, we help ensure that
reports are filed correctly and on time, so business owners can
eliminate the worry and risk, allowing them to focus on running and
growing their business," said Dan Wernikoff, CEO at LegalZoom.
LegalZoom’s Beneficial Ownership Information Report service is
available as a one-time filing to help customers avoid
noncompliance and consequences. It is also featured in the
Compliance Filings and Compliance Filings plus Licenses &
Permits packages, which include updated beneficial ownership
information report filings to cover ongoing changes to the business
or its owners and controlling members. LegalZoom has over 20 years
of experience helping entrepreneurs form and protect their
businesses and continues to be the most favored brand amongst small
business owners. To learn more about LegalZoom’s offerings,
including its Beneficial Ownership Information Report service,
please visit LegalZoom.com.
About LegalZoom.com, Inc.:LegalZoom is the
leading online platform for business formation in the United
States. Driven by a mission to unleash entrepreneurship, LegalZoom
delivers comprehensive legal, tax and compliance products and
expertise for small business owners through easy-to-use technology.
From free business formations to business management solutions and
professional advisory services, LegalZoom supports millions of
small business owners and their families throughout the
entrepreneurial journey. Founded on the belief that everyone should
have affordable access to legal and financial expertise, LegalZoom
empowers entrepreneurs to make their dream a reality. To learn more
about LegalZoom, visit www.LegalZoom.com.
Media contact:press@legalzoom.com
LegalZoom com (NASDAQ:LZ)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
LegalZoom com (NASDAQ:LZ)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024