Did you know about the Beneficial Ownership Information Report (BOIR) requirement for all LLCs? The deadline for compliance is coming up fast, so take 5 minutes to submit your personal identification to the Financial Crimes Enforcement Network.

The online form requires your company tax identification number, company address, and personal ownership information. You are also required to upload an unexpired passport photo or driver’s license as verification of identity.

Failure to comply may result in significant daily fines along with criminal penalties punishable by up to two years in prison. There are services that can file the report for you, but it is very easy to self-report. To reiterate, this is required of every LLC in the United States.