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Holiday Reminder: Key Year-End Deadlines for the Restaurant Industry 🎄⏳

Memphis Restaurant Association

Business advocate for the Mid-South.

Holiday Reminder: Key Year-End Deadlines for the Restaurant Industry 🎄⏳

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FINCEN Beneficial Ownership Reporting January 13 Deadline is Back On So File Now!

BOI Reporting deadline of Jan 1 was struck down, then reinstated, then deadline slightly moved

As we near the end of 2024, we wanted to alert you to an important legal requirement affecting companies and other legal entities: beneficial owner reporting. While there has been hope that this requirement might be struck down permanently, recent developments have reinstated it. Fortunately, owners have been granted a 12-day extension to comply.

What Is Beneficial Owner Reporting?

Beneficial owner reporting refers to a legal obligation for companies and legal entities to disclose information about their beneficial owners to a government authority. A “beneficial owner” is an individual who:

  • Directly or indirectly owns or controls 25% or more of the entity, or

  • Exercises significant control over the entity’s operations.

What Information Needs to Be Reported?

The required details include:

  • For each beneficial owner: Name, date of birth, address, and an identifying number (such as a driver’s license or passport number).

  • For the reporting company: Name, address, and jurisdiction of formation.

Deadlines to Keep in Mind

Entities formed or registered before January 1, 2024, must file their initial reports by January 1, 2025 now Jan 13, 2025. If your entity falls under this category, ensure you prepare accordingly to meet the reporting requirements.

Learn More

We understand that this can be a complex and evolving issue. To help you navigate these requirements, we’ve created an informative video that explains the details of beneficial owner reporting and what it means for your business. You can watch the video here.

Stay informed, stay compliant, and reach out if you have any questions or need assistance. The extended deadline provides a little extra breathing room, but don’t delay—this is a requirement you can’t afford to overlook.

Tennessee Servers: Renew Your ABC Card by Dec. 31 for 5-Year Validity

The validity period for Tennessee Alcoholic Beverage Commission (ABC) cards is changing, and it’s essential for servers to take note. Currently, server permits are valid for five years, but that will soon change due to new legislation.

What’s Changing?

Under the Tennessee Prevention of Drunk Driving Act, passed earlier this year, server permits issued on or after January 1, 2025, will need to be renewed every two years instead of every five years. This significant change means that many servers will need to renew their permits more frequently, increasing the administrative and financial burden.

What Should You Do?

If your current ABC card has more than two years remaining before expiration, we strongly recommend renewing your permit before December 31, 2024. By doing so, you can extend your permit by another five years under the current regulations. Any permit issued after January 1, 2025, will only be valid for two years, regardless of when your existing permit expires.

Access the Legislation

For more details, you can read the full text of the Tennessee Prevention of Drunk Driving Act here.

Act now to save time and reduce the hassle of frequent renewals! If you have any questions, feel free to reach out for further clarification.

Give the Gift of Flavor: Memphis Food Festival Tickets

Looking for a last-minute holiday gift? Tickets to the Memphis Restaurant Association Food Festival on Sunday, February 2, are the perfect solution! This thoughtful, clutter-free gift supports your local restaurant business association and doesn’t require any wrapping. Treat your loved ones to a delicious and memorable experience while giving back to the community.

2025 MRA Food Festival

We’re excited to announce that registration is now open for our Annual Food Festival, happening on Sunday, February 2, 2025!

This year, we’re taking it back to the Roaring Twenties with a dazzling flapper-themed celebration. đŸ„‚âœš

Get Involved:

  • MORE Sponsorship Opportunities!

  • Food & Drink Vendor Registration

  • Tickets Now Available

More exciting details will be shared soon, and we’ll keep updating the station list as vendors join in on the fun. Don’t miss your chance to be part of this unforgettable experience!

👉 [CLICK HERE]

Mark your calendars and get ready to step back in time for an evening of food, fun, and festivities!

🎉 Announcing the 2025 Memphis Restaurant Association Board of Directors!

We are excited to introduce the passionate individuals who will lead the Memphis Restaurant Association into 2025. Their dedication to our industry ensures a bright future for Memphis restaurants, associates, and the broader hospitality community.

Executive Officers

  • President: Jeff Zepatos, The Arcade Restaurant

  • Vice President: Alex Boggs, Huey’s

  • Treasurer: Terry Trim, Corky’s

  • Communications: Arturo Azcarate, Curry N Jerk

Restaurateurs

  • Maegan Smartt, Peabody

  • Marco Puerto, Cocina Mexicana

  • Matt McCrory, Gus’s Fried Chicken

  • Brad Allbritten, Bog & Barley

  • Joe Clarke, Villa Castrioti

  • Larry O’Connor, B.B. King’s Blues Club

Immediate Past President

  • Mike Miller

Associates

  • Jimmy Kiser, US Foods

  • Jim Walker, Sysco

  • Chris Green, Athens Distributing

  • Shawn Massey, TSCG

  • John Seay, State Systems

  • Melody Thomas, Moxey

  • Daniel Weber, Cleaner Solutions

  • AJ Jones, Old Dominick

Tourism Representative

  • Marcus Cox, Welcome to Memphis

Hotelier Representative

  • Wayne Tabor, MMHLA

Thank you to our board members for their commitment to serving our vibrant restaurant community. Here’s to an incredible year ahead! 🎉

Brighten Your Business and Save!

Looking to upgrade your business lighting? Check out this MLGW program offering incentives that cover up to 70% of the cost for qualifying lighting upgrades!

Improve energy efficiency, reduce costs, and create a brighter workspace for your team and customers.

Learn more and apply today: Click here to visit the website.

Don’t miss this chance to invest in your business and the environment!

Associate and Vendor Members,

This event is for you! Network with others in the restaurant industry. We buy your cup of coffee.

Details:

Date: Thursday, February 6, 2025

Location: Another Broken Egg, Highland, Memphis, 38111

Time: 8a-9a

Bring your business cards and your elevator pitch! Tell us you’re coming here.



Contact Info

Sally D. Fienup, Executive Director
901-860-5086
PO Box 770027, Memphis, TN 38177

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