Quote from @Abhijit Roy choudhury: Financial Crime enforcement Network, requires reporting of Beneficial Ownership Information filing by 01/01/2025.Does this apply to us, Rental LLC owners.

However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial.

However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial.

What was the outcome?

Required again as of 12/23/24 Appeals Court:"In light of a December 23, 2024, federal Court of Appeals decision, reporting companies, except as indicated below, are once again required to file beneficial ownership information with FinCEN.

I'm trying to structure a deal for the seller but the real estate agent won't submit my offer to the seller because they don't think the offer is beneficial for the seller.

@Clinton Davis The Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) have been reinstated after a temporary injunction, with initial reports now due by January 13, 2025, for companies formed before January 1, 2024.New entities formed after January 1, 2024, must file within 90 days of creation.

Hi Ricky,Being in operation for 10 years with mid seven figures of assets and NNN leases,it would be wise to speak with your tax advisor regarding if the tax set up should be an LLC, an S-Corp  or a C-Corp.It would also be wise to speak with an asset protection attorney to find out if this is something that might be beneficial to you in that area.

Besides reading and listening to podcasts, my wife and I attend a local real estate investor meetup that has been extremely beneficial. 

What was the outcome? Fully