Most US companies must report their Beneficial Ownership Information (BOI) to FinCEN under the Corporate Transparency Act. Non-resident LLC owners are included.
What is BOI reporting?
A filing that identifies the individuals who own or control a company (generally 25%+ ownership or substantial control). It is a transparency filing, not a tax, and the data is not public.
Who must file?
Most LLCs and Corporations. A few entity types are exempt, but the typical small foreign-owned LLC must file.
What is reported
Company name, address and EIN, plus each beneficial owner’s name, date of birth, address and an identifying document such as a passport.
Deadlines and penalties
New companies must file within a set window after formation, and updates must be filed promptly. Non-compliance carries significant penalties, so BOI should never be skipped.
We file it for you
BOI filing is included in our PRO, PREMIUM and Corporation packages and available as an add-on.
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