Get $100 when you sign up for a new Relay account and fund it with at least $100! To learn more, go to [ Ссылка ]

Resources:
File your report for FREE: [ Ссылка ]
BOI FAQs: [ Ссылка ]
BOI Small Compliance Guide: [ Ссылка ]

Are you hearing a lot about BOI (Beneficial Ownership Information) reporting but unsure what it means for your business? As we approach the end of 2024, this new requirement is gaining attention, and many small business owners are getting emails asking them to file. But what exactly is BOI reporting, who needs to comply, and how can you ensure you're following the rules?

In this video you will find:
0:00 - What is BOI Reporting?
0:37 - BOI Reporting for Small Business Owners
1:18 - Relay Business Banking
2:45 - Who Needs to File?
3:05 - Beneficial Ownership Defined
4:10 - Key Deadlines to Remember
5:35 - Exemptions: Who is Excluded?
7:05 - Potential Penalties for Non-Compliance
8:30 - How to Prepare for BOI Reporting
9:55 - Common Mistakes to Avoid
10:30 - Steps for Filing BOI
13:25 - FAQs on BOI Reporting
15:00 - Best Practices to Stay Compliant
16:20 - Conclusion & Next Steps

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(As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)

Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at [ Ссылка ]

Important disclosures:
Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.

*The interest rates and annual percentage yield on your account are accurate as of 05/16/23 and are variable and subject to change based on the target range of the Federal Funds rate. APY will vary between 1-3% depending on the balances held. Earn 1% APY on savings balances of less than $50,000, 1.5% APY on savings between $50,000 and $250,000, 2% APY on savings balances between $250,000 and $1,000,000 and 3% APY on savings balances of more than $1,000,000. There are no minimum balances or minimum deposits required to earn interest on your account.

Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.

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