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Due Dates

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Due Dates of FinCEN Reports as required by the Corporate Transparency Act (CTA)

Only entities classified as “reporting companies” are required to submit a CTA FinCEN report. To determine whether an entity falls under the category of a reporting company, please refer to the section titled “Who Must File a FinCEN Report?” Below are the three scenarios and associated deadlines for CTA FinCEN reports:

  1. Reporting companies formed before 2024: All reporting companies established before the year 2024 must ensure the submission of their initial FinCEN report no later than January 1, 2025.
  2. Reporting companies formed after 2023: For reporting companies created after the year 2023, the FinCEN report must be filed within 30 days of the entity’s formation/creation.
  3. Reporting companies with changes in reported information: In the event that any information pertaining to a beneficial owner, as disclosed in a previously submitted FinCEN report, undergoes changes, the reporting company is obliged to file an amended FinCEN report within thirty days following the occurrence of the change. Common instances requiring an amendment include:
  • A new owner acquiring 25% or more of the reporting company.
  • An owner who previously held less than 25% ownership acquiring enough to reach or exceed the 25% threshold.
  • A beneficial owner who owned 25% or more passing away, leading to the transfer of ownership and one or more inheritors holding 25% or more of the reporting company.
  • A change in the beneficial owner’s address as stated in the most recent FinCEN report (e.g., a change of residence).
  • A beneficial owner obtaining a replacement driver’s license, passport, or other document listed in the most recent FinCEN report.
  • A person named as a beneficial owner in a FinCEN report ceasing to be a beneficial owner.

A beneficial owner is defined as an individual who, either directly or indirectly, through various means such as contracts, arrangements, understandings, relationships, or other mechanisms, exercises substantial control over the entity or owns or controls at least 25 percent of the entity’s ownership interests.

Amendments to a FinCEN report must be submitted within thirty days following the occurrence that necessitates the filing of the amended report. Presently, FinCEN does not provide a formal procedure for entities to file amended FinCEN reports, which means reporting companies cannot submit such reports at this time.

Consider enlisting the services of CTA Filing Solution, LLC to prepare and file your CTA FinCEN reports, both initial and amended. Our mission is to educate individuals about the Corporate Transparency Act and facilitate the preparation and submission of CTA FinCEN reports for reporting companies. For more details and to engage our services for initial or amended FinCEN reports, please visit our services page.

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