WEST PLAINS, MO – The Ozarks Small Business Incubator (OzSBI) will host a Lunch & Learn workshop titled “Beneficial Ownership: What You Need to Know” on December 6th from noon to 1 to help local business owners understand and comply with new federal “Beneficial Ownership” reporting requirements effective as of January 1, 2024.
The Corporate Transparency Act, enacted by Congress in 2021, requires many U.S. companies to report information about their beneficial owners—individuals who ultimately own or control the company—to the Financial Crimes Enforcement Network (FinCEN). This new requirement aims to combat financial crimes, including money laundering and terrorism financing through shell companies.
“If you own an LLC and have not yet filed your BOI Report, then this workshop is just what you need to avoid some hefty fines and penalties,” said Gene Weinbeck, the OzSBI staff member leading the workshop.
The session will provide comprehensive coverage of the new requirements, including which businesses must comply, what constitutes a “beneficial owner,” required information for disclosure, critical filing deadlines, steps for submitting reports to FinCEN, and penalties for non-compliance.
Business owners are encouraged to attend this timely workshop. The session is particularly relevant for owners and managers who must understand their reporting obligations under the new law.
The workshop will be held on December 6th from noon to 1:00 PM. The cost is $15 per person, which includes lunch. Registration is required and can be completed by calling OzSBI at 417-256-9724 or visiting ozsbi.com/events.
