Beginning on January 1, 2024, many existing companies will have until January 1, 2025 to file reports with information about their “beneficial owners” with the federal Financial Crimes Enforcement Network (“FinCEN”); companies formed on or after January 1, 2024 must comply within 30 days of formation. The new law is an effort to combat money laundering and other crimes, and access to the database is generally limited to law enforcement agencies.

Who is required to report?

With some exceptions, corporations, limited liability companies, and any other entities that are formed by filing a document with the secretary of state or similar office of any state must file an initial report and update as information changes (or if incorrect information was filed).

Who are “beneficial owners”?

With some exceptions, “beneficial owners” are individuals owning 25% or more of the equity of a company and persons who substantially control the business (generally, individuals holding significant decision-making authority).

Business, Resilience, Innovation, Growth, Hustle, Transformation The BRIGHT business planning course is a 6-week program designed to provide you with the skills needed to run a successful business. You'll finish the program ready to take your business to the next level and feel comfortable composing a business plan. Topics Covered: Business Planning Targeting Customers Market Research Talent AcquisitionLegal Concerns Financial Planning Loan Preparation Marketing & Branding  Participants will receive a Certificate of Completion from the Temple University Fox School of Business and the Small Business Development Center. Make Your Business Shine BRIGHT. SIGN UP TODAY! 6-week virtual program Wednesday...

Attract Your Talent of the Future Today! Host an Open House During October to Celebrate Manufacturing Day 2023 Join thousands of manufacturers across the U.S. as they showcase the realities of modern manufacturing and inspire the next generation of creators. MFG Day, celebrated on the first Friday of October, inspires the next generation, reshapes perceptions about manufacturing, and fosters a robust future workforce. It's an initiative of the Manufacturing Institute, dedicated to diversifying, strengthening, and advancing the manufacturing workforce, promoting opportunities, and driving industry growth in the United States. New to MFG Day or Need Assistance? Let us help you! DVIRC will support you with planning and will share your event wi...

Want to learn more about transportation projects happening across the region? Want to share your thoughts on the region's transportation needs? Come take part in the Public Participation Task Force's (PPTF) Transportation Improvement Program (TIP) online public meeting on June 15th! The meeting will be hosted via Zoom from 6:00 - 7:30 with presentations and discussions led by DVRPC staff. Register here: https://dvrpc.zoom.us/meeting/register/tZMocOitrjssEtA6ynD6sqNsWqoLgx_poiNg. DVRPC's Transportation Improvement Program (TIP) is the agreed-upon list of specific priority projects and is required for the region to receive and spend federal transportation funds. The TIP lists federally funded transportation projects and non-federally fund...

PECO understands the importance of small businesses in the Greater Philadelphia region and this support becomes even more important as energy bills rise nationally through this winter season. Small businesses located within PECO's natural gas service territory can now apply for a one-time $500 grant to help pay their PECO natural gas bill. This new grant program is part of PECO's commitment to small businesses and the communities we serve. The $500 grant will be applied directly to the customer's bill and will lower current outstanding balances. Eligible applicants for the Small Business Gas Grant Program can apply now at www.peco.com/gasgrant. Businesses must be a existing PECO natural gas customers with an account in the name of the ...

Enterprises and large organizations need high-quality business phone services to facilitate effective internal team collaboration and external customer interactions. For decades, traditional landlines, desk phones and on-premises PBXs were the go-to solutions for business communications, whether deployed at a single business location or dozens. Many enterprises have shifted to VoIP (Voice over Internet Protocol) systems to take advantage of their increased flexibility and scalability. If your enterprise is considering upgrading its business phone system, you must know the ins and outs of enterprise VoIP solutions. In this blog, we'll walk through everything you need to know about enterprise VoIP, including what it is, how it works, dep...

Imagine this crisis scenario in Bucks County: 70% of residents are unemployed.70% of the Bucks County area high school students do not graduate. 85% of the students that go on to college drop out. Thankfully that is not the case here in Bucks County, but if it was, would you want to know the causes of that crisis and find solutions? My name is Kristin Smedley. I am quite blessed to live, work and raise a family here in Bucks County. While those statistics are NOT real inour community, they are very real in the blind community. The crisis is real for those living with vision loss and my fear of those numbers fueled me to fix them. You see, 23 years ago, I met blind people for the first time. They happened to be my two sons, Michael and Mitch...

The Pennsylvania Department of Environmental Protection (DEP) Energy Programs Office is offering an Agriculture Energy Efficiency Rebate Program for PA farmers and ag producers. Rebates are being offered for the following technology categories: Energy efficient lighting systems: LED lighting (both interior and exterior), including fixtures and controls (DLC or Energy Star rated lighting)Energy efficient ventilation equipment: Ventilation fans including both circulation and exhaust fans, motors and controls Energy efficient dairy and refrigeration equipment: Variable speed vacuum pumps, efficient motors and controls, scroll compressors, well water pre-chillers (plate coolers/heat exchangers), and refrigeration heat recovery (RHR) All of the ...

PECO understands the importance of small businesses in the Greater Philadelphia region and this support becomes even more important as energy bills rise nationally through this winter season. Small businesses located within PECO's natural gas service territory can now apply for a one-time $500 grant to help pay their PECO natural gas bill. This new grant program is part of PECO's commitment to small businesses and the communities we serve. The $500 grant will be applied directly to the customer's bill and will lower current outstanding balances. Eligible applicants for the Small Business Gas Grant Program can apply now at www.peco.com/gasgrant. Businesses must be an existing PECO natural gas customer with an account in the name of...

Pennsylvania's State Small Business Credit Initiative (SSBCI) is also known as of Pennsylvania Catalyst Loan Fund. Pennsylvania's State Small Business Credit Initiative (SSBCI) was established under the American Rescue Plan Act of 2021 (ARPA) in response to the economic effects of the COVID-19 pandemic to help small businesses gain access to capital. BCEDC has been selected to receive $1.4 million in funding in order to establish a revolving loan fund for small businesses in Bucks County. This program will allow BCEDC to engage with businesses and meet demand for smaller loans that do not typically fit our existing financing programs. BCEDC will receive and review all applications from eligible companies in Bucks County. To learn more pleas...