April 1st Corporate Transparency Act Update: Interplanetary Businesses

In an unprecedented move following the very recent suspension of Beneficial Ownership Information (BOI) reporting requirements for U.S.-formed businesses, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has now made the decision to require non-Earth originated businesses to file BOI Reports as well.

Additionally, businesses will face much harsher penalties for failing to file on time. These penalties may include mandatory legal name changes and even forced tattoo requirements for missing filing deadlines by even a few days.

New Reporting Requirements for All Interplanetary LLCs and Corporations

Did The Expanse’s Tycho Manufacturing corporation put stars in your eyes and convince you to start a company in our asteroid belt? Well, you’ll need to register that company with FinCEN due to their April 1st update to reporting requirements.

FinCEN has once again revised their definition of reporting companies, or those required to file BOI Reports. Now, businesses operating on any of the planets or stars in our local solar system must report their beneficial owners and company applicants.

That includes the dwarf planets like Pluto. A spokesperson for FinCEN had this to say in response to pushback from smaller locales: “These dwarf planets may not be large enough to produce the gravity necessary to clear debris, but businesses native to them still pose a significant risk of financial fraud, despite not being originated on real planets.”

Beneficial ownership information change

FinCEN anticipates that there will be between one to 15 million businesses affected on other planets. In order to accommodate the new requirement for interplanetary businesses, FinCEN has updated the beneficial ownership information required for non-human or organic life, such as quasi-inorganic lives or microbial beings. Interplanetary businesses must report the following for their beneficial owners:

• Planet of origin

• Sentient level

• ID issued by planetary rebel force, conglomerate, or controlling life form

The sudden change in requirements related to the BOI Report has been a frustrating development, made even worse by the harsh new penalties imposed on late filers.

Yes, it’s fun to laugh at the possibility of a seventh update to BOI Reporting requirements since December, but skipping your business’s compliance obligations is no joke. You can hire us to act as your registered agent and we’ll keep your business and you up to date to any required filings.

New BOI Penalties for Late Filers

In a move that some law groups are calling Futuramian for how dystopian and strange it is, FinCEN has also swapped out its penalties. According to this latest update, reporting companies that don’t get their BOI Reports on time face a bizarre set of consequences. In lieu of $591 daily fees, the penalty structure will now look like this:

One inside source who spoke to Northwest implied that using a time machine to prevent these negligent beneficial owners from ever existing was being considered. However, logistics were still being worked out since supply chain interruptions have caused a shortage of flux capacitors. That, and no one can agree whether changing the past would change the present or create a separate branching timeline.

CTA Updates May Soon Rival Saturn’s Moon Count

Business owners from across the solar system may be scratching their heads, vaguely recalling that FinCEN tweaked BOI Reporting rules last week–twice. Yes, they did. And last month. And the month before that. FinCEN has hardly gone one month without some new update regarding the CTA since December of 2024.

This new focus on stellar companies and tattoo-and-name-change approach is just the latest display of authority and a sign that FinCEN means business. After all, it’s difficult to forget filing deadlines when you’re wearing them (literally) on your chest.

Disclaimer: This is a satirical post and in no way reflects actual policies or penalties mandated by the U.S. Treasury or FinCEN. Happy April Fool’s Day!