At SMB Legal Counsel, we understand the significance of staying abreast of regulatory changes that may impact your business operations. We are writing to inform you about the recently implemented registration requirements by the Financial Crimes Enforcement Network (FinCEN), specifically affecting both new businesses and those formed prior to January 1, 2024.

New Registration Requirements and Filing Deadlines:

1. For New Businesses (Formed After January 1, 2024):

If your business was formed after January 1, 2024, it is now mandatory to register with FinCEN within 30 days of formation. This filing deadline is crucial to avoid potential legal consequences and financial penalties.

2. For Existing Businesses (Formed Prior to January 1, 2024):

Existing businesses formed prior to January 1, 2024, must review and, if necessary, update their registration with FinCEN. The deadline for this review and update is January 1, 2025. Failure to meet this deadline may result in non-compliance issues. SMB Legal Counsel can assist you with the application process to ensure alignment with the updated requirements.

How SMB Legal Counsel Can Assist:

Navigating these new requirements and adhering to filing deadlines can be complex, and our team is ready to provide guidance tailored to your business's unique circumstances. Whether you are establishing a new business or updating an existing one, SMB Legal Counsel is here to assist and can guide you through the registration process and ensure all necessary information is accurately provided within the stipulated timeframe.

Call to Action:

To discuss these new requirements further and initiate the registration process, we strongly encourage you to contact SMB Legal Counsel. Our legal experts are available to answer any questions you may have and provide comprehensive assistance to ensure your business remains compliant with FinCEN regulations within the specified deadlines.

Thank you for your attention to this critical matter. We look forward to supporting your business in adapting to these regulatory changes.