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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- BOI reporting required for LLC Closed in 2023?
BOI reporting required for LLC Closed in 2023?
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Kpeabody
Level 2
02-02-2024
09:06 AM
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I was a little confused about this.
LLC have until 1/1/25 if they were registered before 1/1/24. There is an exemption if it is inactive but I am unsure if that exemption would apply for future years.
I guess usually tax forms filed in 2024 are usually for 2023. (IE FBAR, 1040, etc). But from what i'm reading it seems like they want to know the ownership information effective for 2024 for the "initial form" which seems to indicate they would be exempt since they were closed in 2024.
Any thoughts on this?
2 Comments 2
jeffmcpa2010
Level 11
02-02-2024
11:35 AM
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Not sure if anyone has anything for you as your question is not accounting or tax related.
BOI is a mess, and I am referring my clients to the attorney who helped them form their LLC for guidance and assistance.
BobKamman
Level 15
02-02-2024
12:04 PM
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Was the business operated by the LLC closed, or was the LLC terminated according to state law? And would you know what that looks like, if you saw it?
