Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Goals, Business Plans & Entities
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

79
Posts
56
Votes
Masyn Grant Barney
  • Real Estate Agent
  • Spanish Fork, UT
56
Votes |
79
Posts

Beneficial Ownership Information Reporting - Will They Enforce The Fines??

Masyn Grant Barney
  • Real Estate Agent
  • Spanish Fork, UT
Posted

Beneficial Ownership Information Reports

Are they actually going to fine people $591/day for being late? Or all together forgetting?

I just did one for an entity I created this year.

It has been 89 days since formation.

I was 2 days away from being late, and potentially opening myself and business partner up to fines of $591/day.

It just seems like there will be many that fail to file their report and I just can't see the government really going after tiny businesses for so much money for something that is so easy to forget to do.

Thoughts?

Loading replies...