REI's Who Have Corporation-NEW RULES

[Janet Behm]

REI's BLINDESIDED Over New Fed Rule

The Feds put a new law in place. The intention is to prevent money laundering and funding terrorists. 

The Corporate Transparency Act (CTA) requires most small businesses to report the personal information of the beneficial owner's to a special unit of the U.S. Treasury Department. 

PUSHBACK

This law unfairly targets small employers (>20 employees). Besides REI's question why they must report personal info to a crime-fighting agency when we contribute to the community with safe and affordable housing.

LEGAL CHALLENGE

There is a lawsuit challenging the law. But it looks like you better be prepared to comply.

Non-Compliance is $500 per day. So, we encourage you to play-the-game.

WHAT TO DO?

The American Institute of CPA's (AICPA) is advising employers to file the Beneficial Owner Information (BOI).