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The Beneficial Ownership Information Report is a new business compliance document required by the United States Department of Treasury starting in 2024. Most businesses formed or registered in the U.S. are required to submit a BOI Report.
The BOI Report includes information about the individuals who own or have control over a business, including names, addresses, and ownership percentages. The intent is to prevent financial crimes and corruption by making this information transparent.
FileForms provides security you can rely on, unmatched support, and a streamlined filing process that gets you on your way to BOI compliance in just minutes.
"I cannot express how grateful I am for discovering FileForms. As a small business owner, the process of filing my BOI reports was completely new, and honestly kind of scary. However, FileForms simplified everything for me. Thanks to FileForms, I saved hours of tedious work and ensured that my reports were compliant with FinCEN Requirements"
Mansoor Razzaq
Owner | Catalogs.com
"Filing our BOI reports was something that we did not want to get wrong. However, with FileForms, the whole experience was easy. By using FileForms, I saved countless hours! If you want to file BOI reports, as well as be informed of future insights, FileForms is the way to go."
Daniel Donovan
Owner | Dsquared Media
"It saved me so much time compared to if I tried to file on my own. Thanks to FileForms, we were able to meet the compliance and requirements set by FinCEN effortlessly. I highly recommend FileForms to anyone looking for a streamlined and efficient solution for filing your BOI reports."
Darren Palestine
Co-Founder | Commercial Finance Partners
We don’t just help you GET compliant - We help you STAY compliant
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ONE-TIME FILING
Best for companies not anticipating any changes to ownership structure any time soon
ULIMITED FILING SUBSCRIPTION
Best for companies anticipating changes and the need to report BOI updates to FinCEN in the next year
All the One-Time Filing Benefits PLUS
*Minimum 2-year commitment with annual billing
Get guidance and a signed opinion from a licensed attorney or CPA with expertise in BOI policy and procedures
We don’t just help you GET compliant - We help you STAY compliant
ONE-TIME FILING
Best for companies not anticipating any changes to ownership structure any time soon
Most Recommended
ULIMITED FILING SUBSCRIPTION
Best for companies anticipating changes and the need to report BOI updates to FinCEN in the next year
All the One-Time Filing Benefits PLUS
*Minimum 2-year commitment with annual billing
Get guidance and a signed opinion from a licensed attorney or CPA with expertise in BOI policy and procedures
What is beneficial ownership information?
Beneficial ownership information refers to identifying information about the individuals who directly or indirectly own or control a company. Basically, the government needs to know who has influence over the decisions your business is making.
It’s about creating transparency that helps prevent financial crimes like money laundering, corruption, and tax evasion. Identifying beneficial owners makes it harder for those acting in bad faith to hide.
Why do you have to start reporting this information now when you didn’t before? It’s mandated by the 2021 Corporate Transparency Act and went into effect January 1st, 2024.
FinCEN began accepting Beneficial Ownership Information Reports on January 1, 2024. Companies formed before this date may file their report at any point during the year. Companies formed during 2024 have 90 days to file their initial report, and companies formed after January 1, 2025 will have 30 days to file.
Most businesses formed or registered to operate within the United States are required to file a BOI Report.
There are 23 types of entities exempt from filing BOI reports, including publicly traded companies meeting certain requirements, many nonprofits, and some large operating companies. See if your company is exempt by taking our short BOI Quiz.
BOI Reports are filed with the Financial Crimes Enforcement Network (FinCEN) at the Department of Treasury.
You can file directly with FinCEN, or FileForms can take care of that hassle for you. We can verify and submit your information, monitor changes throughout the year, and help you report any Change of Information. It takes only minutes on your part, and then you can track everything from your FileForms Dashboard while we do the work.
BOI reporting is a business compliance requirement, so failure to report would result in consequences such as steep fines, civil and criminal penalties, and, in extreme cases, imprisonment.
Find out if your business needs to file a BOI Report by taking our FREE Quiz today!
(Takes less than 1 min)
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