Here's the link I promised: https://peytonlaw.myflodesk.com/boiquiz

Today’s topic is one you definitely don’t want to ignore. The question is: What are the penalties for failing to register beneficial ownership or for providing false information on beneficial ownership?

Failing to register your beneficial ownership or providing false information isn’t just risky—it’s costly. The penalties are real, and the longer you wait, the bigger the potential fines. But the good news is, with the right information and a little bit of action, you can easily avoid these consequences.

If you’re unsure about the process, I’m going to be offering a workshop in early November where we do your filing together, so check back for more information.

To make this easier for you, I’ve put together a quick 2-minute quiz that will help you determine if you need to register. You can find it at… I’ll put the link a tthe top of the show notes. Let I said, it’s free and takes 2 minutes — no hassle, then therefore, no excuse to not do it. It will give you clear answers to help you figure out your next steps.

So, what should you do next? First, determine if you’re required to register as a beneficial owner. If you own more than 25% of your company or have significant control over its operations, you’re likely required to report this information.

If you’re thinking, 'I’ll deal with this later,' trust me—you don’t want to wait. The consequences for non-compliance are serious and could cost you more than just money."

"Let’s get straight to why this matters for you as a business owner. In the U.S., beneficial ownership registration isn’t just a box to check off—it’s legally required. And if you fail to comply, the penalties are steep. We’re talking about daily fines, potential criminal charges, and even jail time in severe cases.

So, if you own a business or plan to start one, it’s critical to understand what’s at stake. The last thing you want is to be blindsided by penalties for something you could easily avoid with the right information."

If you’re not convinced yet, let’s break down the types penalties you could face:

1. Fines: The most immediate consequence is financial. If you fail to register your beneficial ownership or provide false information, you could face fines of up to $500 per day until you’re compliant. That’s over $15,000 a month.
2. Criminal Liability: This is where things get even more serious.
3. And then let’s think about a third type of penalty -Reputational Damage.

So, whether you’re running a solo operation or managing a growing business, these penalties apply across the board. Even corporations aren’t exempt."

"You might be thinking, 'I don’t have time to deal with this right now.' I know, I get it, I’m a business owner too.But here’s the thing—not dealing with it could cost you a lot more time and money down the road. Being proactive now means avoiding those daily fines, potential legal battles, and so much

I’m Janelle Peyton, and welcome to 10onTuesday—the podcast where I answer one burning legal question in 10 minutes or less. No fluff, no confusing legal-eze—just real answers in plain english to help you grow and protect your business.

This podcast is for smart, driven people like you—intelligent, entrepreneurial, and ready to take your business to the next level.

If you found today’s insights valuable, head over to www.peytonlaw.com for show notes and helpful resources.

Just a quick reminder: the information shared in this podcast is for general informational purposes only and isn’t legal advice specific to your situation. Listening doesn’t create an attorney-client relationship. For advice tailored to your business, please consult a qualified attorney.