Yes. CTASafe prioritizes privacy, safety, and security. Your information will never be shared with other beneficial owners. Your name and email will be shared with company administrators, but the rest of your data remains private.

According to the FinCEN website:

If your company existed before January 1, 2024, it must file its initial beneficial ownership information report by January 1, 2025.

If your company was created or registered on or after January 1, 2024, and before January 1, 2025, then it must file its initial beneficial ownership information report within 90 calendar days after receiving actual or public notice that its creation or registration is effective. Specifically, this 90-calendar day deadline runs from the time the company receives actual notice that its creation or registration is effective, or after a secretary of state or similar office first provides public notice of its creation or registration, whichever is earlier.

If your company was created or registered on or after January 1, 2025, it must file its initial beneficial ownership information report within 90 calendar days after receiving actual or public notice that its creation or registration is effective. The following sets out the initial report timelines.

The Corporate Transparency Act states any person who willfully violates the BOI reporting requirements may be subject to civil penalties of up to $591 for each day the violation continues (max. $10,000). The person may also be subject to criminal penalties of up to two years imprisonment.

According to FinCEN’s website, in 2021, Congress passed the Corporate Transparency Act on a bipartisan basis. This law creates a new beneficial ownership information reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures.