In this on-again, off-again political world, I want to remind you that the Beneficial Ownership Information (BOI) reporting requirement is officially back ON! Most businesses must file by March 21st. It’s quick, easy, and required — even for inactive entities.

BOI reporting is part of the Corporate Transparency Act, which requires most US businesses to report information about their beneficial owners to FinCEN. The penalties for non-compliance are significant. If you haven’t filed yet, do it now. It takes about 10 minutes and the free filing portal is at fincen.gov. Don’t let this one slip through the cracks.