Willfully providing false information or failing to report or update beneficial ownership information may result in significant penalties. The civil penalty for a violation is $500 per day, while criminal penalties include fines of up to $10,000, imprisonment for up to two years, or both. If ...
The good news is you’re now armed with knowledge — you know BOI isn’t a big, scary monster you should fear (if it still applies to you). In this guide, you learned: What Beneficial Ownership Information is The penalty for noncompliance Who’s impacted (and who’s not) And how to...
An attestation of exemption will be filed electronically, under penalty of perjury, with, and in “such form designated by[,] the department of state.”[11] The exempt company will have to include in the form a statement as to “the specific exemption claimed and the facts on which such ...