services beneficial-ownership-information-boi-report 
Parasec
JANUARY 6, 2025
The CTA required millions of businesses to submit detailed reports on their owners and controlling parties to the Financial Crimes Enforcement Network (FinCEN). All this back-and-forth has understandably led to confusion and frustration among business owners, legal and tax professionals, and service providers alike.
Parasec
FEBRUARY 6, 2025
The appeal challenges the ruling that has impacted the implementation of the CTAs beneficial ownership information (BOI) reporting requirements. This extension is aimed at providing affected businesses with additional time to comply with reporting requirements should the CTA remain in effect.
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Parasec
APRIL 1, 2025
A NOTE FROM FRANCES Corporate Operations Manager Late last month, the Financial Crimes Enforcement Network (FinCEN) announced a sweeping change to beneficial ownership reporting requirements under the Corporate Transparency Act (CTA). businesses are now exemptfrom BOI reporting. with their BOI report filings.
Strictly Business
FEBRUARY 29, 2024
General Requirements of the CTA The CTA mandates that “reporting companies,” as defined by the CTA, must submit specific information to the US Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”). Failing to report complete or updated beneficial ownership information to FinCEN.
Parasec
SEPTEMBER 10, 2024
The Financial Crimes Enforcement Network (FinCEN) has updated its FAQs section on beneficial ownership information (BOI) to address inquiries about entities that are no longer active and historical beneficial owners of a reporting company.
Parasec
JULY 10, 2024
At Parasec, our team of employee owners is well-equipped to manage business transactions of all sizes while upholding the personalized service and continuous customer support for which we are known. It also empowers us to introduce new services that our clients truly need. Another notable change pertains to annual reports.
Parasec
APRIL 4, 2024
A NOTE FROM IAN National Sales & Strategic Business Development Manager For this issue of the Alert, I wanted to discuss one of our lesser-known but highly regarded business offerings: independent director services. Companies formed before 2024 still have through December 31, 2024, to file an initial BOI report.
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