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PRODID:-//ChamberMaster//Event Calendar 2.0//EN
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BEGIN:VEVENT
DTSTART:20240117T190000Z
DTEND:20240117T200000Z
X-MICROSOFT-CDO-ALLDAYEVENT:FALSE
SUMMARY:NAHB Free Webinar: New Beneficial Ownership Reporting Requirements: What Small Business Owners Need to Know
DESCRIPTION:Beginning on January 1\, 2024\, many small businesses will be required to report their beneficial ownership information to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN)\, identifying those who directly or indirectly own or control the company.\n\n\n\nThis reporting helps the U.S. government identify and limit money laundering\, corruption\, tax evasion\, drug trafficking\, fraud and other illegal activities.\n\n\n\nThe reporting requirements generally are applicable to small corporations\, limited liability companies (LLCs) and other similar entities that:\n\n	have 20 or fewer full-time employees\; and\n	filed federal income taxes in the previous year demonstrating $5 million or less in gross receipts or sales.\n\n\nThere are 23 types of entities that are exempt from reporting beneficial ownership. Those entities include:\n\n\n	publicly traded companies meeting specified requirements\n	many nonprofits\n	certain large operating companies\n\nHear from David King\, a senior regulations advisor at FinCEN\, about these new requirements\, as well as the guidance FinCEN has developed to help small businesses understand what they need to do to comply.
X-ALT-DESC;FMTTYPE=text/html:<span style="font-size:14px\;"><span style="font-family:arial\;">Beginning on January 1\, 2024\, many small businesses will be required to report their beneficial ownership information to the U.S. Department of the Treasury&rsquo\;s Financial Crimes Enforcement Network (FinCEN)\, identifying those who directly or indirectly own or control the company.<br />\n<br />\nThis reporting helps the U.S. government identify and limit money laundering\, corruption\, tax evasion\, drug trafficking\, fraud and other illegal activities.<br />\n<br />\nThe reporting requirements generally are applicable to small corporations\, limited liability companies (LLCs) and other similar entities that:</span></span>\n<ul>\n	<li><span style="font-size:14px\;"><span style="font-family:arial\;">have 20 or fewer full-time employees\; and</span></span></li>\n	<li><span style="font-size:14px\;"><span style="font-family:arial\;">filed federal income taxes in the previous year demonstrating $5 million or less in gross receipts or sales.</span></span></li>\n</ul>\n\n<p><span style="font-size:14px\;"><span style="font-family:arial\;">There are <a data-feathr-click-track="true" data-feathr-link-aids="580e6bef8e8027472d6f7125" href="https://www.fincen.gov/boi-faqs#C_2" rel="noopener noreferrer" target="_blank">23 types of entities that are exempt</a> from reporting beneficial ownership. Those entities include:</span></span></p>\n\n<ul>\n	<li><span style="font-size:14px\;"><span style="font-family:arial\;">publicly traded companies meeting specified requirements</span></span></li>\n	<li><span style="font-size:14px\;"><span style="font-family:arial\;">many nonprofits</span></span></li>\n	<li><span style="font-size:14px\;"><span style="font-family:arial\;">certain large operating companies</span></span></li>\n</ul>\n<span style="font-size:14px\;"><span style="font-family:arial\;">Hear from David King\, a senior regulations advisor at FinCEN\, about these new requirements\, as well as the guidance FinCEN has developed to help small businesses understand what they need to do to comply. </span></span>
LOCATION:
UID:e.9292.3697
SEQUENCE:3
DTSTAMP:20260427T063950Z
URL:http://members.blsj.com/events/details/nahb-free-webinar-new-beneficial-ownership-reporting-requirements-what-small-business-owners-need-to-know-3697
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