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FinCEN BOI PENALTIES

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What Are The Penalties For Failing To File A FinCEN

Report As Required By The Corporate Transparency Act 

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The Corporate Transparency Act (CTA) outlines various monetary penalties and a criminal penalty for violations. Companies that willfully provide false information, including false or fraudulent identifying photographs or documents, or fail to report by the filing deadline may incur civil Beneficial Ownership Information (BOI) penalties of up to $500 for each day that the violation persists, remains unaddressed or has not been remedied. Additionally, they may face fines of up to $10,000 and/or a maximum imprisonment term of 2 years.

Discussing FinCEN Beneficial Ownership Information Reporting Penalties
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