New BOI Reporting Requirements for Dental Practice Owners, How to Remain Compliant

The new BOI, i.e. Beneficial Ownership Information, reporting requirements, effective January 1, 2024, apply to domestic and foreign companies created or registered to do business in the US by filing a document with the Secretary of State (or similar office). While certain types of businesses are exempt from filing (e.g. tax-exempt entities, banks and credit unions, large operating companies, inactive entities), the new rules are targeted at small businesses. 

Financial penalties from the U.S. Department of the Treasury for non-compliance will start in 2025. 

Learn more about exemptions, requirements, etc. at the following links:

BOI FAQ

BOI Registry Press Release