This information is to be submitted via a web portal that’s set to be up-and-running on January 1, 2024 (not before).
If the business owner fails to provide this information within ninety (90) days for new entities formed on or after January 1, 2024, or by January 1, 2025 for those entities in existence on or before December 31, 2023, FinCEN can impose a penalty of $500 per day up to $10,000 per business entity AND potentially 2 years in prison.
We understand this is a huge and intimidating requirement for all of our clients with the possibility of enormous consequences if these requirements are not followed.
So, to assist our clients in making sure their initial reports are properly submitted to avoid these penalties, NorthStar Law Group is offering to file these initial reports with FinCEN for a one-time fee. The fee will be based on how your entity is structured and how many entities you have as shown at the end of this page.
If you want to have NorthStar Law Group, P.S. handle this task for you, please click on the following link to choose the fee tier that applies to your situation and make payment (subject to a 2.95% credit card / debit card processing fee) so we can start the process of gathering your information and filing the report once the FinCEN portal goes live on or after January 1, 2024.
Please be aware that the above offer is subject to certain terms and conditions described more fully on the webpage accessed by clicking the link.
Since we are small business ourselves, we know this new law creates an additional burden for small companies everywhere especially when we seem to get hit the hardest. Let NorthStar Law Group take away some of the stress in complying with the legal responsibilities that arise when running your organization.