BOI Updates

Beginning January 1, 2024 the Corporate Transparency Act requires reporting of ownership and certain other individuals to the Department of the Treasury – Financial Crimes Enforcement Network (FINCEN). This applies to most small businesses who register annually with the State of Wisconsin as an LLC, partnership, or a corporation.

Existing businesses have until January 1, 2025 to file their initial Beneficial Ownership Interest report.

Newly established businesses have 90 days from initial registration to complete their Beneficial Ownership Interest Report.

Changes to company information or beneficial ownership must be reported via the BOI website.

Information needed for to complete the BOI report:

Company Information:

• Legal Business Name
• Any trade names, doing business as (d/b/a)
• Current street address (PO Boxes are not allowed)
• Jurisdiction of formation / registration
• Employer identification number

Beneficial Owner Information:

• Individual’s legal name
• Date of birth
• Residential address
• Legible photo copy of an unexpired passport, driver’s license, or government id

Reports are filed via the FinCen website: https://www.fincen.gov

If you are in need of assistance in completing this report, our staff may be available for one-on-one meetings to guide you through the filing process. To schedule a BOI meeting, please call our office at 715-443-3450.

For additional information, you can visit https://www.fincen.gov