Columbus, OH – Harness racing businesses that were organized before Jan. 1, 2024 as a Limited Liability Corporation may be required to file a report to the Financial Crimes Enforcement Network (FinCEN) by Jan. 1, 2025.

FinCEN is a bureau of the U.S. Department of Treasury.

According to an American Horse Council press release, those who have to report are

1. A corporation, a limited liability company (LLC), or was otherwise created in the United States by filing a document with a secretary of state or any similar office under the law of a state or Indian tribe; or

2. A foreign company and was registered to do business in any U.S. state or Indian tribe by such a filing.

If your company was created or registered prior to Jan. 1, 2024, you will have until Jan. 1, 2025, to report. (There are different reporting timelines if your company was not created or registered prior to 2024. See the Website for guidance.)

Companies required to report need to do so through FinCEN’s Website: www.fincen.gov/boi.

To learn more and find resources for additional information, visit the American Horse Council’s website here.