File Beneficial Ownership Information

The Financial Crimes Enforcement Network (FinCEN) mandates the filing of Beneficial Ownership Information (BOI) to enhance transparency and combat financial crimes. This initiative, stemming from legislation passed in 2019, is crucial for maintaining the integrity of financial systems and preventing illicit activities.

Why File BOI?
Filing BOI is essential for several reasons:
  • Prevent Financial Crimes: Helps in the fight against money laundering, tax evasion, and other financial crimes.
  • Increase Transparency: Enhances the transparency of business entities and their ownership structures.
  • Legal Compliance: Complies with the Corporate Transparency Act of 2019, avoiding potential legal penalties.
For more detailed information on the importance of filing BOI, please see the FAQ Section on the FinCen website here. .

Who Needs to File?
The requirement to file BOI applies to:
  • Corporations
  • Limited Liability Companies (LLCs)
  • Other entities that meet specific criteria outlined by FinCEN.

A comprehensive list and a mind map diagram are provided on the FinCen Website to help you determine if your entity needs to file BOI. Entities both within the U.S. and those foreign entities engaging in business within the U.S. are required to comply.

When to File?
  • Existing Entities (before January 1, 2024): Have until the end of 2024 to file their BOI.
  • New Entities (after January 1, 2024): Must file their BOI within 90 days of formation.
  • Updates to BOI: Any changes in beneficial ownership must be reported within 60 days.

Filing Process
To file your BOI, please fill out the form below. Our team will assist in ensuring your BOI is filed accurately and in compliance with FinCEN requirements.