Tax services
BOI reporting.
The federal filing a US LLC or Corporation submits to disclose who truly owns it. Left unfiled, the penalty accrues at $500 a day up to $10,000. We confirm whether you must file, then file it cleanly.
What it is.
The Beneficial Ownership Information (BOI) report is a federal filing required by the Corporate Transparency Act, signed into law by Congress in 2021 and effective from January 2024.
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Who has to file.
The default is that every US LLC, Corporation, and similar entity must file.
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How we file.
We collect the required information for every beneficial owner: full legal name, date of birth, residential address, and a copy of an identifying document (driver's license or passport).
Discover moreWhat it is.
The Beneficial Ownership Information (BOI) report is a federal filing required by the Corporate Transparency Act, signed into law by Congress in 2021 and effective from January 2024. It is filed with FinCEN, the Treasury Department's Financial Crimes Enforcement Network.
The report exists to make US company ownership transparent, so authorities can identify the individuals behind each entity. Money laundering, terrorism financing, and tax evasion all depend on shell companies whose owners stay hidden. The BOI report closes that gap.
The filing itself is private: only FinCEN and a small set of authorized agencies see the data. It is not a public record.
Who has to file.
The default is that every US LLC, Corporation, and similar entity must file. Foreign entities registered to do business in the US must also file. There are 23 categories of exemptions, mostly for large or already-regulated entities.
- Most LLCs and Corporations formed in any US state
- Foreign entities registered to do business in the US
- Entities formed in 2024 or later: 30 days from formation to file
- Entities formed before 2024: had until January 1, 2025 to file (still required if missed)
- Exemptions: large operating companies (>20 employees, >$5M revenue), banks, broker-dealers, public companies, and 19 other narrow categories
We confirm whether your company qualifies for an exemption before filing. Most founders' entities, small and mid-size, do not.
How we file.
We collect the required information for every beneficial owner: full legal name, date of birth, residential address, and a copy of an identifying document (driver's license or passport). Then we file the report electronically with FinCEN.
Confirmation typically comes back within hours. We deliver the confirmation receipt to you and track any future updates the report needs (ownership changes, address changes, etc.) within the 30-day update window.
- List of beneficial owners with names, DOBs, addresses
- Government-issued ID for each beneficial owner
- Company formation documents
- EIN (the report references it but does not require it for filing)
Details
What's included
- Exemption check before filing
- Beneficial owner identification and documentation
- Electronic submission to FinCEN
- Confirmation receipt delivered to you
- Update filings for ownership or information changes
- Available for all US LLCs and Corporations
Questions
Frequently asked
What is the BOI report?
The Beneficial Ownership Information report is a federal filing required under the Corporate Transparency Act of 2021. It identifies the individuals who ultimately own or control a US company and is filed with FinCEN, the Treasury Department's financial-crimes network.
Who has to file?
Most US LLCs and Corporations, plus foreign entities registered to do business in the US. There are 23 categories of exemptions (large operating companies, banks, regulated entities, etc.). We confirm whether your company falls under an exemption before filing.
What are the penalties for not filing?
Civil penalties of up to $500 per day, capped at $10,000, plus potential criminal penalties (up to 2 years of prison). The penalties accrue from the day the filing was due, so delays add up fast.
What information goes into the report?
For each beneficial owner: full legal name, date of birth, residential address, and an identifying document (driver's license or passport with the document number). The report is filed electronically and is not made public.
Does the report need to be updated when ownership changes?
Yes. Any change in beneficial ownership, in identifying information, or in the company itself triggers an update filing within 30 days. We track this for clients on the BOI service.
How long does the filing take?
Once we have the beneficial owner information, the filing itself is submitted within 1 to 3 business days. Confirmation from FinCEN typically comes back the same day.
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