207 - $500 Per Day Penalties if You Don't Do This! with Mark Robertson The Cash Flow Contractor

Could you be facing $500 daily penalties and not even know it? Find out how you can safeguard your business against these potential fines in this episode with Mark Robertson. You don’t want to miss this!

Time Stamps
00:35 - Episode & Guest Intro01:44 - Understanding Beneficial Ownership Information Report08:02 - Understanding Exemptions and Requirements11:41 - Penalties for Non-Compliance14:25 - Navigating the Filing Process25:59 - Practical Advice and Closing Thoughts27:52 - More About Mark Robertson30:07 - How to Reach Mark Robertson
Quotable Moments From the Show
"FinCEN has spent the last three years putting together regulations on how companies should report who the beneficial owners are and who the control people are for companies here in the United States. Those regulations kicked in effective January 1st of this year." -Mark Robertson"You have until the end of the year if you were formed before the beginning of this year. Now, if you were formed in January of this year, you have 90 days to do your filing. If next year you file a new company, then new companies filed after January 1, 2025, have 30 days to do their filing."  -Mark Robertson
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