Corporate Transparency Act Filing Requirements

713.622.1111

The Corporate Transparency Act (CTA) became effective January 1, 2024. The Act was designed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities. 

Under the CTA, reporting companies, including partnerships, corporations, PLLCs, LLCs, LLPs, and other entities are required to disclose information about their beneficial owners. A beneficial owner is any individual who exercises substantial control over a reporting company or owns or controls at least 25% of its ownership interests. 

The reporting deadline for existing companies is within one year (by January 1, 2025), and for those entities created in 2024, within 90 days of the formation. Non-compliance carries penalties ranging from $500 to $10,000 per violation and potential imprisonment. 

Our firm can assist in filing the required Beneficial Ownership Information (BOI) reporting required under the Corporate Transparency Act. Every person who owns or manages an LLC needs to be aware of this new reporting requirement, first to determine if their company is subject to BOI reporting, and then, if so, to begin preparing to comply.

Our firm with securely provide your beneficial ownership information in our online information forms.

We prepare and submit your filings to save you up to 3 hours per report.*

Please reach out to our firm begin your BOI report today.

*FinCEN estimates reading and completing the Beneficial Ownership Information Report can take up to three hours per entity.

Schedule a Complimentary Consultation

Call us 713-622-1111 or email [email protected]

Contact Us Today

Huynh & Huynh is located in Houston, Texas. Our mission is to serve as the primary resource for our clients' personal, financial, and business growth.

Menu