🌤️California Bulletin #50
Upcoming Beneficial Ownership Information (BOI) Reporting Requirement
🚨Red Flag Alert
Upcoming Beneficial Ownership Information (BOI) Reporting Requirement
Starting March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) requires certain businesses to file Beneficial Ownership Information (BOI) reports. Entities registered before this date must submit their initial BOI reports by April 20, 2025. New entities registered on or after March 21, 2025, have 30 days from their registration date to comply.
The Fix: Determine if your business falls under the BOI reporting requirements. If so, prepare to file the necessary information by the applicable deadline to avoid potential penalties. Consult FinCEN's official guidelines or seek legal counsel to ensure compliance.
📂Founder Resource
California Infrastructure and Economic Development Bank (IBank) Financing
The California IBank offers various loan programs to support small businesses, including the Small Business Finance Center, which provides loan guarantees and direct loans. These programs aim to help small businesses access capital for growth and development.
Access It Here: Explore the financing options available through IBank by visiting their official website.
- Data Drop / Opportunity Signal
Small Business One-On-One Matchmaking Event 2025
The Society of American Military Engineers (SAME) is hosting the Small Business One-On-One Matchmaking Event on April 8, 2025, from 9:30 a.m. to 1:00 p.m. at the Mack Powell Event Center in Sacramento. This event provides an opportunity for small business owners to connect with potential clients and partners.
Why It Matters: Attending this event can help you establish valuable connections and explore new business opportunities.