Love your videos. One clarification though - the company applicant is the person who helped create or registered the company (not the person filing the BOI Report). If the company formed before Jan 1, 2024, they do not need to list the company applicant.
I hope he addresses this. I asked our cpa and they also said that the person filling out the form (first time request for a FINCEN number) is the company applicant. The sample video on the FINCEN site, however, listed the tax person that originally filed as the company applicant. I hope this gets clarified.
@@RobJagerPlumProductions Any changes in the company need to be filed. Does it cease to do business? Did the officers (decision makers) or other beneficial owners change?
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Vivian jean wilhelm turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
So i ran into someone else that states that an llc single member registered through its state secretary with an ein does have to file for the boi. This is getting confusing. Does a single member llc have to file or does not and where can i go to read it for myself? Thanks
Alert: Alert [December 27, 2024]: Impact of Ongoing Litigation - Deadline Stay - Voluntary Submission Only In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.
If you're in a partnership or an LLC has several participants, is each required to file a report for the same company? Or just the owner with majority stake and control?
The company's report will allow you to list each participant in that report. So ideally, there would be one report with all participant's listed in it. To make it easy, you can have each participant register for a "FINCEN ID" and just use that number to easily report their information in the BOI report. Otherwise, you can file the report with the available information you have, and you can update the report with additional information at a later date.
Alert: Alert [December 27, 2024]: Impact of Ongoing Litigation - Deadline Stay - Voluntary Submission Only In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.
Awesome and Detailed. WOW! You hit exactly what I needed. Thank You for being so detailed.
Thanks for posting
Love your videos. One clarification though - the company applicant is the person who helped create or registered the company (not the person filing the BOI Report). If the company formed before Jan 1, 2024, they do not need to list the company applicant.
I hope he addresses this. I asked our cpa and they also said that the person filling out the form (first time request for a FINCEN number) is the company applicant. The sample video on the FINCEN site, however, listed the tax person that originally filed as the company applicant. I hope this gets clarified.
Thx so much for this informative video!! Appreciate it!
Done! Following your guidelines
Great video. One thing to note - It is not an annual report.
That is correct - thank you for adding that.
@@mycpacoach So once and done? Or will this be required at another time in the future?
@@RobJagerPlumProductions Any changes in the company need to be filed. Does it cease to do business? Did the officers (decision makers) or other beneficial owners change?
Does the BOI concern a sole proprietorship or partnership?
What will they come up with next? Thank you for this information.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Vivian jean wilhelm turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
Single member llc does not file?
I I am wwww😢thank
So i ran into someone else that states that an llc single member registered through its state secretary with an ein does have to file for the boi. This is getting confusing. Does a single member llc have to file or does not and where can i go to read it for myself? Thanks
The Exempt list names Insurance Producers, but not clear.
This guide goes into more detail about exemptions. See pages 7-8 www.fincen.gov/boi/small-entity-compliance-guide
Thank you! God bless!
Alert: Alert [December 27, 2024]: Impact of Ongoing Litigation - Deadline Stay - Voluntary Submission Only
In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.
Please help me open a bank account for my LLC
Do you pffer consultation?
Not regarding BOI. We do offer free consults for tax planning, prep, and bookkeeping related issues.
does it include the inactive LLC and DBA?
It may. I discuss this at 2:45
Gracias:)
If you're in a partnership or an LLC has several participants, is each required to file a report for the same company? Or just the owner with majority stake and control?
The company's report will allow you to list each participant in that report. So ideally, there would be one report with all participant's listed in it. To make it easy, you can have each participant register for a "FINCEN ID" and just use that number to easily report their information in the BOI report. Otherwise, you can file the report with the available information you have, and you can update the report with additional information at a later date.
More and more laws = less and less freedom.
Alert: Alert [December 27, 2024]: Impact of Ongoing Litigation - Deadline Stay - Voluntary Submission Only
In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.