Episode Notes

Hey everybody, it's Gene Marks. Welcome to another episode of the Hartford Small Biz Ahead podcast. Thank you so much for joining me. This week, I wanna talk to you about a new federal mandate, which you probably don't know about and you really need to know it. Apparently, this mandate is not getting the kind of attention that it should be getting and it's a bit concerning to me in some of my clients. So, let me make sure that you're aware of this. There's a mandate where you have to report to the federal government this year, the beneficial owners of your business. Yeah, that's right. It's a new reporting requirement. It began on January 1st of this year, and you have to do the reporting by the end of the year, December 31st. And it comes from the Financial Crimes Enforcement Network, or FinCEN, which is part of the Treasury Department.

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