BOI E-Filing

⚠️ NOTICE: The deadline to file the Report of Foreign Bank and Financial Accounts (FBAR) to FinCEN
coincides with the current IRS tax season filing deadline for annual tax returns (extended to Oct 15, 2025). Failure to file may be subject to a civil
penalty up to $10,000 per violation.

Beneficial Owner & Foreign Bank Account Report Filing

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About BOIR

What is the Beneficial Ownership Information Report (BOIR)?

The Beneficial Ownership Information Report (BOIR) is a crucial requirement introduced under the Corporate Transparency Act (CTA) for
businesses in the United States, The BOIR ensures transparency in ownership structures and plays a significant role in combating financial
crimes, such as money laundering.

Key Points About the BOIR:

  • Mandated by: Financial Crimes Enforcement Network (FinCEN)
  • Applies to: Most U.S. businesses
  • Filing deadline: March 21, 2025


What Information Does the BOIR Require?

To comply with BOIR regulations, businesses must report the following details for each beneficial owner:

  • Full legal name

  • Date of birth

  • Current residential or business address

  • Unique identifying number (e.g., passport or driver’s license number)

Need to file your BOIR?

Comply with CTA requirements and file your BOIR accurately and on time.

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FinCEN BOIR

Why BOIR?

Why is the BOIR Important?

The BOIR serves multiple purposes that enhance accountability in the corporate ecosystem:

  • Combating money laundering and financial crimes
  • Strengthening corporate accountability
  • Assisting law enforcement in investigåtions
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Process

3 Step Filing Process

Company Information

Provide basic details on the reporting company including physical address, tax identification number, such as the EIN and location of formation.

01

Beneficial Ownership

Provide the beneficial ownership information of the reporting company. Information gathered will be residential address, birthdate and proof of identification.

02

Compliance and Filing

Verify and acknowledge the details of the filing process, review timelines, and the importance of providing accurate information before submitting for filing.

03

Common Questions

Frequently Asked Questions

What is Beneficial Ownership Information Reporting?
Beneficial Ownership Information Reporting (BOIR) is a requirement for each business entity formed with the Secretary of State. It involves submitting identifying information about the individuals who own or control the business, ensuring compliance with federal regulations.

With BOIR Reporting Service, you’ll receive timely reminders when it’s time to file based on your business’s formation date. We’ll collect the necessary information from you, prepare an accurate report with details about your company’s beneficial owners, and file it on your behalf with the Financial Crimes Enforcement Network (FinCEN). You’ll receive a confirmation once the report is successfully submitted, so you can be confident in meeting the compliance

A beneficial owner is anyone who either:
  • Directly or indirectly owns or controls at least 25% of the company’s ownership interests, or
  • Exercises substantial control over the business.
If you’re unsure, you can consult with a professional to assess your role within the company.
Beneficial owners with substantial control can include:
  • Key decision-makers within the company,
  • Senior officers such as the President, CEO, CFO, General Counsel, or COO,
  • Individuals with the authority to appoint or remove officers or directors.
Additionally, if your business was formed after January 1, 2024, you must provide information about the individuals involved in its formation, even if they don’t qualify as beneficial owners.
Corporations and limited liability companies (LLCs) that qualify as reporting companies must file a BOIR. This involves reporting information about the individuals who own or control the business. Noncompliance could result in civil and criminal penalties. Most business entities are required to file unless exempt under specific criteria.

Helpful Information