Most people would ask what is FinCen   they are Financial Crimes Enforcement Network and its another department of the Federal Government.   One of their objectives is to limit money laundering.   How they are going to do this is by reporting.   Effective 1/1/24 new entities will need to report their ownership to FinCen under the BOI, Beneficial Ownership Information.   If this is not done within 30 days of setup they may be subject to large penalties.   Entities setup prior to 1/1/24 will need to report within the first year.

To file it seems an individual will need to report their driver license and/or passport number.

Sunbiz makes it easy to setup entities but don’t stop there the Fed’s want to know what you are doing and who owns it.  Big brother is getting bigger.  This is something you will want to make sure you are compliant with.