Indiana Secretary of State Diego Morales has issued a statement raising awareness of future changes for business owners on the state and federal levels.

New Indiana businesses starting in 2024 will be required to report beneficial ownership information to the federal government within 90 days of forming their company.

Businesses formed prior to 2024 will have to start reporting by 2025.

The changes coincide with the passage of the Federal Corporate Transparency Act passed by Congress in 2021.

The CTA brought reforms to anti-money laundering, corruption, and tax fraud laws.

The Indiana Secretary of state launched their own web page to provide Hoosier business owners help to comply with the new requirements. To learn more visit www.inbiz.in.gov/boi.