An injunction delayed small business having to report beneficial ownership to the government for FinCEN earlier this month.

However, a ruling just changed this and extended the filing deadline.

While things could change, as it stands now small business owners must file by January 13, 2025 or face up to a $591 per day fine.

Seems excessive, doesn't it?

While I am not eager to give the federal government any information I don't need to...

And while legal developments could eliminate the requirement to report...

There is a good chance that this new regulation will stand.

My advice is to file it and get it over and done with.

Here's how to do it:

Make sure you have your business's Employee ID Number (EIN) and address.

You'll also need the name, address, date of birth, and driver's license, passport, or official ID number, state or country of issuance of every owner of the company that has 25% or more equity.

In addition, you'll also need an image of the license, passport, or ID to upload.

You can file online at https://boiefiling.fincen.gov/

If you have just 1 or 2 LLC's, it shouldn't take you any longer than a few minutes.

But if you have multiple LLC's, and different business partners... that's another story.

Just make sure to get it done by January 13th!