Register Your Business Today and Stay Compliant with the Corporate Transparency Act!

BOI REPORTING
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Failure to Register could result in a $10,000 fine!

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Why Act Now?

Did you know the U.S. Congress has rolled out new federal reporting requirements for many small and mid-sized businesses? Don’t stress—Supernus Law is here to help you navigate these changes and keep your business in good standing. Let’s get your business registered and compliant with the Corporate Transparency Act today!

What Is BOI Reporting?

In 2021, the Corporate Transparency Act was signed into law by Congress to bring more transparency and crack down on shady activities involving shell companies. This Act means that all limited liability companies (LLCs) and small corporations need to report Beneficial Ownership Information (BOI) to the Financial Crimes Enforcement Network (FinCEN), a part of the U.S. Department of Treasury.

Starting January 1, 2024, businesses in Illinois have to report their beneficial owner(s) to FinCEN or face some pretty serious penalties. Don’t let that happen to you!

Do You Need to

Report?

You might need to file a BOI report if your business is:

  1. A corporation, LLC, or other business entity registered with the Illinois Secretary of State’s Department of Business Services, and
  2. You are a Beneficial Owner, which means you
    (a) own at least 25% of the entity, or
    (b) have substantial control over the company (people who are senior officers, key decision-makers, or people with the power to appoint and remove officers).

Are There Penalties?

What Happens If You Don't Report?

Yes, there are penalties for failing to report and they are very severe! Owners who don’t comply could face serious fines and even criminal penalties, which could include the following:

  • Civil penalties (fines) of up to $500 each day you are late, and
  • A criminal fine of up to $10,000, and
  • up to 2 years in prison.
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SUPERNUS BUSINESS & LAW CENTER

What People Are Saying

Jedediah guided me through creating an emergency plan for my business and also with creating my will and power of attorney. He took the time to explain everything in depth and answered all my questions. There were so many things I never thought about, but now I know there is a plan and my family will be fine if something happens to me. Very nice and patient man to work with, I would highly recommend his help for anyone with their own business and a family to take care of!
Joy Prohaska
My experience with this office was amazing! My attorney was Jedediah McClure and I highly recommend him. He was very responsive an patient with all my questions. I really felt like he cared if I succeeded or not. Hes one of the good guys and I’m very thankful I was referred to this firm.
Caroline Trantow
I would recommend attorney McClure for any new business. He was very upfront and explained everything very thoroughly, and answered all of my questions in detail. He even helped me understand better ways to do marketing. His business experience really puts him head and shoulders above other business attorneys out there. Hiring Jedediah was exactly what I needed to improve and grow my company.
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Anthony Hansen
I had no idea about what to do, when it came to protecting my kids in an emergency, but the Supernus guardian program taught me what I needed to know and provided the tools I needed to get it done. Thank you for making these resources available online.
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Liana DuBuque
I needed to ensure that my kids were provided for if anything ever happened to me, but everyone else just told me to get a will and life insurance. That’s not what I wanted. I wanted to make sure my kids were being raised with my values and beliefs. I wanted them to know who I was and the purpose of my life. Jedediah created a document that allowed me to name my kids’ guardian and then provided an entire program to help me pass on my legacy to my kids. This is exactly what I was looking for. If you are a parent, and if you want a way to provide for your kids financially and make sure that they are taught your values and heritage, then you have to talk to Jedediah!
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Gordon Brown
I needed to ensure that my kids were provided for if anything ever happened to me, but everyone else just told me to get a will and life insurance. That’s not what I wanted. I wanted to make sure my kids were being raised with my values and beliefs. I wanted them to know who I was and the purpose of my life. Jedediah created a document that allowed me to name my kids’ guardian and then provided an entire program to help me pass on my legacy to my kids. This is exactly what I was looking for. If you are a parent, and if you want a way to provide for your kids financially and make sure that they are taught your values and heritage, then you have to talk to Jedediah!
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Gordon Brown
I will gladly continue to recommend the Supernus Business & Law Center. They have consistently given me excellent advice and support. My attorney (Jedediah) knows SO MUCH about business, and his personal story is crazy! Glad he’s still around, he’s an amazing help!
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Aliyah Schiller
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Frequently Asked

Questions.

You can file your BOI report with FinCEN’s online system (but be prepared, the questions can be confusing). 

You can obtain more information regarding BIO reporting, guidance on filing your report, as well as a list of frequently asked
questions, by visiting https://www.fincen.gov/boi-faqs#C_2

Need a Hand? Contact Supernus Law!

We get it—BOI reporting can be confusing and time-consuming. That’s where Supernus Law comes in! Let us handle the details for you. Give us a call at 815-710-0200 or shoot an email to Jed@SupernusLaw.com. We’ll gather all the necessary info and file your BOI report, ensuring your business stays compliant and worry-free.

Get in touch with Supernus Law today and make sure you’re all set with the Corporate Transparency Act!

The deadline for filing your BOI report depends on when your business was registered. If your business was registered:

  • Before January 1, 2024: File by January 1, 2025.
  • On or After January 1, 2024, and before January 1, 2025: File within 90 days of your business’s incorporation or organization confirmation.
  • After January 1, 2025: File within 30 days of confirmation.

Ignoring BOI reporting can lead to hefty fines and even jail time. You could face:

  • Civil penalties of up to $500 per day.
  • Criminal penalties of up to two years in prison and a $10,000 fine.

Your BOI information is kept confidential and isn’t available to the general public. However, certain government officials and financial institutions might access it for national security, intelligence, law enforcement purposes, or compliance requirements—with your permission.

A limited set of entities are exempt from BOI reporting. Exempt entities include tax-exempt not-for-profit entities, publicly traded companies, banks/credit unions, investment advisors, brokers, and entities dealing with securities, public utilities, certain types of large operating companies, and subsidiaries of certain exempt entities. 

A complete list of exemptions is available here: https://www.fincen.gov/boi-faqs#C_2

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Supernus Law

Beneficial ownership Information (BOI) Reporting

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Contact.

⟐Email: Info@SupernusLaw.com
⟐Phone Number: 815-710-0200

About.

The Supernus Business & Law Center will work directly with you to insure that your business is properly filed. We know that every small business needs to report their beneficial ownership interest in order to avoid very severe fines and penalties. Supernus's goal is simple: to help every small business stay compliant at a price they can afford.

You can trust the Supernus Business & Law Center to correctly and timely file your BOI Report. Upon completion you will receive a Certificate of Completion proving your compliance with the new law.

If you need help filing your BOI Report, Supernus is here to help. Simply click the link and fill out the form and we'll take care of the rest.