ANNOUNCEMENTS
Ignore Filing a BOI Report
Ignore Filing Your BOI
BENEFICIAL OWNERSHIP INFORMATION – Many of our churches and indeed the Presbytery of Tropical Florida have received numerous emails regarding the requirement to file the Beneficial Ownership Information Report, a new report under the corporate transparency act.
IGNORE. We are not required to file this report.
If you want to read further …
First…23 types of entities are exempt from the beneficial ownership information reporting requirements – #19 is “tax-exempt entities” of which our churches are them.
Second…Our churches do not have any beneficial owners. Beneficial ownership refers to a situation where a person enjoys the benefits of ownership even though the property’s title is in another name. Here are some key points about beneficial ownership:
- investopedia.com | Beneficial owners are distinct from legal owners, although they can be the same person.
- investopedia.com | Reporting companies must provide information about each beneficial owner, including name, date of birth, address, and identifying documents.
- treasury.gov
Third…In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. The following guidance should be understood to address the requirements at such a time as the order may be lifted. However, reporting companies may continue to voluntarily submit beneficial ownership information reports. To learn more, visit fincen.gov/boi.
SUSAN CARPENTER
Director of Finance
954-785-2220, x.304
scarpenter@vibrantpresbyter.org
Presbytery of Tropical Florida
405 S.E. 15th Avenue
Fort Lauderdale, FL 33301