Beneficial Ownership Information Reporting Services
DEADLINE MARCH 21, 2025
Have you filed your BOI Report? We Can Help!
about boirs
Why Hire BOIRS to File Your BOI Report?
Businesses, including LLC entities and corporations, are required to file a Beneficial Ownership Information Report with the Financial Crimes Enforcement Network (FinCEN) by the deadline which is March 21, 2025.
Ensuring compliance with BOI Reporting is critical to your business. Penalties for non-compliance include fines of $500 per day; Up to 2 years of imprisonment, and maximum fines of $10,000. We can help your business stay compliant and avoid penalties.
Report Center
What is Beneficial Ownership Information Reporting?
In 2021, Congress enacted the bipartisan Corporate Transparency Act to curb illicit finance. This law requires many companies doing business in the United States to report information about who ultimately owns or controls them.
So, effective January 1, 2024, many companies in the United States must report information about their beneficial owners—the individuals who ultimately own or control the company—to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.
Beneficial ownership information reporting is not an annual requirement. Unless a company needs to update or correct information, a report only needs to be submitted once.
faqs
BOI Report Frequently Asked Questions
01
What is Beneficial Ownership Information Reporting?
In 2021, Congress enacted the bipartisan Corporate Transparency Act to curb illicit
finance. This law requires many companies doing business in the United States to report information about who ultimately owns or controls them.
So, effective January 1, 2024, many companies in the United States must report information about their beneficial owners—the individuals who ultimately own or control the company—to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury
02
Who is a beneficial owner?
A beneficial owner is an individual who directly or indirectly: (1) owns or controls at least 25% of your company’s ownership interests, or (2) exercises substantial control over your business. If you’re not sure, contact us and speak to one of our agents.
03
Who should file BOI report?
Your company may need to report information about its beneficial owners if it is:
- A corporation, a limited liability company (LLC), or was otherwise created in the United States by filing a document with a secretary of state or any similar office under the law of a state or Indian tribe; or
- A foreign company and was registered to do business in any U.S. state or Indian tribe
by such a filing.
04
Who Does Not Have to Report?
Twenty-three types of entities are exempt from beneficial ownership information reporting requirements, including publicly traded companies, nonprofits, and certain large operating companies.
05
What is the deadline for BOIR filing?
- Entities formed on or after February 18, 2025 will have 30 days to file their initial BOI report.
- Entities formed before February 18, 2025 will need to file by March 21, 2025.
- Reporting companies that were previously given a reporting deadline later than the March 21, 2025 deadline must file their initial BOI report by that later deadline. If any of the information on the report changes, the entity will have 30 days to submit a new report.
06
Are there penalties for non-compliance?
Filing your BOI report will help you avoid criminal and civil penalties which include:
- Up to 2 years of imprisonment
- Fines of up to $590 per day and
- Up to a maximum fine of $10,000
Testimonials
Hear from Our Clients
BOIRS is a great service for busy small business owners. I enjoyed your quick service. Less than 24 hours after I paid for the service, my report was in my inbox. Thank you.
BOIRS saved me from penalties, literally. I was not aware of this reporting until a friend told me about it and then referred me to this website. BOIRS took care of it the same day. I couldn’t thank you enough. Keep up the good works.
BOI reporting is one less headache I have to deal with. Thanks to BOIRS. Great service and great people to deal with. I’ll certainly come back for more.
Thanks guys! You saved the day. Great service- fast, responsive, and affordable. I have already referred 3 friends to BOIRS and will happily do so again in the future.
