What is Beneficial Ownership Information?

The Corporate Transparency Act requires that all newly formed companies disclose their Beneficial Owners to FinCEN, a federal law enforcement agency. This information is used to fight terrorism and prevent money laundering.

Do I need to file a Beneficial Ownership Report?

YES. Filing a Beneficial Ownership Information Report (BOIR) is required by law. Failure to file can result in penalties of $500 per day and up to two years in prison.

What do I need to file?

All Reporting Companies will need to disclose any Beneficial Owner of the company. This generally means anyone with 25% or more of the ownership or control of a company must disclose personal information in the Report.

This sounds complicated, how do I Comply?

We can help! If you already know who your Beneficial Owners are, we can file the Report for you. If you have a question about who might be a Beneficial Owner, add on an Assessment to meet with a licensed attorney to discuss your specific situation.

Why should I use The Watson Firm to file my Beneficial Ownership Report?

The Watson Firm is a law firm with licensed attorneys specifically trained for compliance with the Corporate Transparency Act.

• Expertise in Legal and Regulatory Nuances: Licensed attorneys bring a wealth of knowledge not just in law, but in the specific nuances of financial regulations. We stay abreast of the latest legal changes and understand how they impact your business. Our expertise means we can navigate the complexities of FinCEN requirements with precision, ensuring your filings are compliant and tailored to your business's unique needs.

• Reliability and Accountability: When you choose a licensed attorney, you're choosing a professional bound by strict ethical standards and accountability to legal authorities. Our commitment to upholding these standards means you can trust us to manage your sensitive information with the utmost care and professionalism.

• Confidentiality: Attorney-client privilege is a cornerstone of our profession. This privilege ensures that your communications with us are confidential, offering you a secure space to discuss and manage your beneficial ownership information. Non-attorney services cannot provide this level of confidentiality assurance.

• Personalized Legal Advice: Every business is unique, and cookie-cutter solutions often miss critical nuances. As licensed attorneys, we provide personalized legal advice that considers your specific business structure, goals, and the broader legal landscape. This tailored approach not only ensures compliance but also positions your business for strategic advantage.

• Mitigation of Legal Risks: Incorrect or incomplete FinCEN filings can lead to serious legal and financial consequences. With a licensed attorney preparing and filing your beneficial ownership information, you significantly reduce the risk of errors that could lead to penalties or legal scrutiny. Our proactive approach to compliance can help you avoid costly mistakes and provide peace of mind.

• Peace of Mind: Know that your business is being looked after by the highest standards of quality in the industry. Running a business is risky enough, BOI compliance isn’t where you should cut corners.

Don't leave your compliance to chance. Trust the expertise of a licensed attorney to navigate the complexities of beneficial ownership reporting. Contact The Watson Firm today to ensure your business is on the right side of the law.