Beneficial Ownership Information

Here's What Business Owners need to Know About Beneficial Ownership Information (BOI) Reporting Requirements

You may be unaware of a new mandate that was put in place recently. Not knowing this information and refusing to file could cost you big time. A Beneficial Ownership Information (BOI) report is a mandatory national filing that’s part of the Corporate Transparency Act (CTA). Effective January 1, 2024, most business entities in the U.S. are required to report ownership information to the government.

Do you already know about BOI and want us to get started on your file?

Click here to skip through this article and get straight to submitting your information!

Your Company May Be Exempt:

Below you will find a quick list of entity types that are exempt from the BOI filing report, read through this list to see if your company is required to file. If you're still unsure, click the button below to go to a more in-depth list with information directly stated from the BOI Small Compliance Guide.

If you see your business type below, be sure to look at the in-depth list so you are absolutely sure you do not need to file your BOI report to the government.

Banks
Companies with 20 or more employees
Public Utility
Credit Union
Some Tax Exempt Entities

Insurance Companies
Companies with a gross income of $5,000,000 or more
Accounting Firm
Broker or Dealer in Securities
Inactive Entity

Click Here For A More Detailed Exemption List

Updates to the BOI Report Filing Deadlines

ALERT [updated Feb. 19, 2025]: Beneficial ownership reporting requirements are back in effect, with a new deadline of March 21, 2025 for most companies. FinCEN will assess its options for further modifying deadlines.

Filing Deadlines for Each Entity:

____________

As stated in the BOI Small Compliance Guideline:

Most entities have until March 21, 2025 to file their BOI Report.

If you were given a reporting deadline AFTER March 21st, you will keep the deadline date you were given.

(EX. If you are in an area that qualifies for disaster relief. OR If you are a brand new company, you will have 30 days from your incorporation date to file.)

If your business was incorporated prior to 2024, you have

to file!

Not Filing Could Co$t You:

The willful failure to report complete or updated beneficial ownership information to the government, or the willful provision of or attempt to provide false or fraudulent beneficial ownership information may result in civil or criminal penalties:

including civil penalties of up to $500 for each day that the violation continues, up to $10,000

and/or criminal penalties including
imprisonment for up to two years

Senior officers of an entity that fails to file a required BOI report may be held accountable for that failure.

It is suggested that you set aside 650 minutes to learn BOI, how to navigate their site, and file the report for you company!!

That's over 10 HOURS!

Do you really have time for that?

How We Can Help You:

We know that new laws can be full of confusing legal jargon and that you may not have time to learn all of the details in your already busy schedule. Our staff is fully trained and knowledgeable to take on this task of filing the BOI report for you. We can help you make this process as smooth and streamlined as possible with easy understanding and clear direction to put your company on the right path, without costing the thousands that could hit you should you not report your BOI to the government.

GET IT DONE IN FIVE EASY STEPS:

Step One:

Fill out the form submission & submit! Your information will be sent to our team so we can text you with the next steps.

Step Two:

We will contact you to set up your online portal. That way we can share a list of items/documents we will need from you. You will then upload those documents back to us in the same portal.