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What is BOI reporting?

After the Corporate Transparency Act was passed in 2021 by the U.S. Congress, the FinCEN (Financial Crimes Enforcement Network) BOI report became a tax obligation that your company must file to verify that no illicit activities are being conducted by beneficial owners

FINCEN is the U.S. Treasury's financial crime enforcement network that collects and analyzes information to prevent terrorism and tax evasion.

By collecting detailed data on a company's beneficial owners, BOI reporting helps make a company's ownership and control structure transparent.