As the deadline approaches, January 1, 2025, it’s crucial to ensure your business complies with the Corporate Transparency Act (CTA). This federal mandate requires many U.S. companies to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). Non-compliance can result in significant penalties, including civil fines up to $591 per day and criminal fines up to $10,000, along with potential imprisonment for up to two years.