Beneficial Ownership Information (BOI) Reporting
North Valley Bank and Wolters Kluwer are partnering to help small businesses File Beneficial Ownership Information Reports.
On March 2, 2025, the Treasury Department announced it will not enforce any penalties or fines associated with the Beneficial Ownership Information (BOI) reporting rule under the existing regulatory deadlines, and further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the rule changes take effect. The Treasury also announced that it will further issue a proposed rulemaking that will narrow the scope of the rule to foreign reporting companies only.
What is the Beneficial Ownership information report & the Corporate Transparency Act?
BOI reporting is part of the Corporate transparency Act that Congress passed in 2021 to crack down on money laundering, financing terrorism, tax fraud and other illegal acts. The BOI will contain personal identifying information about a company's beneficial owners that will be filed with FinCEN - the U.S. Department of Treasury’s Financial Crimes Enforcement Network.
Contact Us Today For More Information
If you are experiencing an account issue, please call 888-347-4355. One of our North Valley Bank team members would be happy to assist you with your account issue. Please do not submit account information in the form below. Thank you!
Use BizFilings' Beneficial Ownership solution for fast and accurate BOI filings
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