The US Internal Revenue Service (IRS), in the release IR-2024-288 on 12 November 2024, announced a free one-hour webinar scheduled for 19 November 2024 aimed at assisting businesses that must report beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network by 1 January 2025.
Because this is not an IRS or tax-related requirement, FinCEN representatives will conduct the webinar on this new anti-money laundering provision. The webinar will take place on Tuesday, 19 November 2024, beginning at 2 PM ET.
Many companies created or registered to do business before 1 January 2024 must e-file their initial beneficial ownership information (BOI) to FinCEN by 1 January 2024.
This generally means reporting the names and other information about the people who own or control the company. Exceptions and special rules apply.
During this free webinar, FinCEN will:
- Explain the Corporate Transparency Act.
- Provide Beneficial Ownership reporting resources.
- Analyse the BOI reporting requirement using the Small Entity Compliance Guide.
- Describe what happens if a company does not timely report BOI to FinCEN.
The webinar will also feature a live question-and-answer session. Though primarily aimed at tax professionals, anyone is welcome to attend.
Certificates of completion will be offered, but no continuing education credits are available for this webinar. Closed captioning will also be offered.
Time: 2 PM (Eastern); 1 PM (Central); 12 PM (Arizona and Mountain); 11 AM (Pacific); 10 AM (Alaska); 9 AM (Hawaii and Aleutian) time zones.
Registration: Visit the Internal Revenue Service webinar website.
