Resources

New and Updated Business Laws 2024

Ensure your small business remains compliant and informed with the latest 2024 updates to Illinois and Federal business laws. Click the provided links for detailed insights to help navigate regulatory changes seamlessly.

Beneficial Ownership Information: Beneficial Ownership Information Reporting | FinCEN.gov

Filing is simple, secure, and free of charge. Companies that are required to comply (“reporting companies”) must file their initial reports by the following deadlines:

• Existing companies: Reporting companies created or registered to do business in the United States before January 1, 2024 must file by January 1, 2025.
• Newly created or registered companies: Reporting companies created or registered to do business in the United States in 2024 have 90 calendar days to file after receiving actual or public notice that their company’s creation or registration is effective.

Beneficial ownership information reporting is not an annual requirement. A report only needs to be submitted once, unless the filer needs to update or correct information.

E-guide on how to file BOI: Click here

Paid Leave for All Workers Act

The Paid Leave for All Workers Act (PLAWA) took effect January 1, 2024, which allows workers to earn up to 40 hours of leave from work each year. Learn more at Paid Leave for All Workers Act (illinois.gov)

IL Retirement Law

State law now requires every Illinois employer with five or more employees to offer their own retirement program or facilitate Secure Choice. Learn more at Illinois Secure Choice (ilsecurechoice.com)