(Hi Line) Farmers across the county may be on a course to hefty fines or even jail time and not even know it.
According to new reporting from the Montana Farm Bureau Federation, the deadline for filing Beneficial Ownership Information, or BOI, is January 1st of 2025, and over 230,000 farms are required to file but haven’t.
If your farm is structured as an LLC, C-Corporation, or S-Corporation, you are required to file this before the end of the year, and the MFBF urges farmers to contact their accountant to find out if they need to file this.
That said, this paperwork must be filed by either the farmer themselves or a legal person such as a tax attorney.
Farm Bureau president Zippy Duvall made public comment saying that many farmers aren’t aware of this new requirement, blaming it on unclear guidance and lack of public outreach.
