Nebraska Extension will host a workshop on filing a Beneficial Ownership Interest (BOI) report on Wednesday, Nov. 13, from 1:30 to 2:30 p.m. at the Panhandle Research, Extension, and Education Center in Scottsbluff.
During the workshop, Nebraska Extension Educator Jessica Groskopf will guide attendees through the process of filing a BOI report, providing essential information for compliance.
In 2021, Congress enacted the Corporate Transparency Act (CTA), requiring companies – including many farms and ranches – to report their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). Companies formed or registered before January 1, 2024, must file their reports by January 1, 2025. Noncompliance can result in significant penalties for willful violations.
The CTA applies to all entities created by filing with a state secretary or similar office, including limited liability companies (LLCs). However, sole proprietorships, joint ventures, and general partnerships are generally exempt from BOI reporting unless they were formally registered in the U.S.
This program is free to attend, but registration is encouraged. To register, call the Panhandle Research, Extension, and Education Center at 308-632-1230.