Beneficial Ownership Information Act Filing is due very soon!

General Mineral Rights Discussion
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For those of you with your minerals held in an LLC or a corporation, your BOI is due in just a few weeks (if you did not do it last year). You will need to read the requirements on the FInCEN website to get your personal FinCEN number (just takes a few minutes). SAVE THAT NUMBER! and the 16 digit code if it is given.

Read the requirements for which members/shareholders in your LLC or Corporation need to file as a beneficial owner.

Beneficial Ownership Information Reporting | FinCEN.gov. File your report here.

Get advice from your attorney or CPA if you have questions. There are fines for not filing on time.

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Does this apply to Non Producing Mineral Rights?

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If they are held in an entity such as corporation or partnership and not if in your individual name. It is entity requirement. If you have multiple entities then each needs to file. Carefully review the standards as to which owners or officers need to be listed and consult your corporate attorney with questions

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Thank you, I have the info that is required and will get it filed. Have a good Thanksgiving.

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Does this also cover pore space rights?

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It applies to small corporations, LLC, partnerships and limited partnerships and certain trusts. Very large entities are exempt. It has nothing to do with what is owned. The government wants to know who the large shareholders and partners, managers and executives are. Read the link posted by Martha. If you own everything in your individual name, and not in an entity, then you will not need to file. Consult your attorney or CPA if you need help.

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Beware of a government looking website called BOIR.Org that wants to charge you $149 to file your report per entity. You can file it directly with the site Martha cited for free but this website I mentioned comes up at the top of the Google search page.

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