BOIR Reporting Services
Stay compliant with federal requirements. We handle your Beneficial Ownership Information Reports accurately and on time.
What is a BOIR (Beneficial Ownership Information Report)?
A Beneficial Ownership Information Report (BOIR) is a federal filing requirement established by the Corporate Transparency Act (CTA). This law requires certain businesses to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of Treasury.
The BOIR is designed to help prevent money laundering, terrorism financing, and other illicit activities by creating transparency around who actually owns and controls businesses in the United States. The report must include detailed information about individuals who own 25% or more of the company or exercise substantial control over the business.
CRITICAL DEADLINE WARNING
Failure to file required BOIR reports can result in civil penalties of up to $500 per day and criminal penalties of up to $10,000 and/or 2 years in prison.
Most existing businesses must file their initial BOIR by January 1, 2025. New businesses formed after January 1, 2024 have 90 days from formation to file.
Who Must File BOIR Reports?
Required to File
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Corporations - All C-Corps and S-Corps
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LLCs - Limited Liability Companies
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Limited Partnerships - When filed with state
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Other similar entities created by state filing
Exemptions (Generally)
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Large Operating Companies - 20+ employees, $5M+ revenue
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Public Companies - SEC regulated entities
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Financial institutions - Banks, credit unions
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Certain nonprofits - 501(c) organizations
Note: Exemptions have specific criteria. Most small businesses must file.
What Information Must Be Reported?
Company Information
- Full legal name of entity
- Any trade names or "doing business as" names
- Complete current address
- State or tribal jurisdiction of formation
- Taxpayer Identification Number (EIN)
Beneficial Owner Information
- Full legal name
- Date of birth
- Complete current address
- Unique identifying number from acceptable document
- Image of the identifying document
Who is a Beneficial Owner?
A beneficial owner is an individual who either:
- 1. Owns or controls at least 25% of the ownership interests of the entity, OR
- 2. Exercises substantial control over the entity (such as senior officers, key decision makers)
Critical Filing Deadlines
Existing Businesses
January 1, 2025
Businesses created before 2024 must file their initial BOIR
New Businesses (2024)
90 Days
From date of formation or registration
Updates & Changes
30 Days
From when changes to reported information occur
Severe Penalties for Non-Compliance
- • Civil penalties: Up to $500 per day of violation
- • Criminal penalties: Up to $10,000 fine and/or 2 years imprisonment
- • Penalties apply to both the entity and responsible individuals
Why Choose IncCraft.com for Your BOIR Filing?
Expert Compliance Assistance
- Navigate complex federal requirements with confidence
- Ensure accurate identification of beneficial owners
- Professional review before FinCEN submission
- Stay updated on changing regulations and requirements
Deadline Management
- Never miss critical filing deadlines
- Automatic reminders for updates and changes
- Track filing status and confirmations
- Avoid costly penalties and legal consequences
Security & Privacy
- Bank-level security for sensitive personal information
- Secure document storage and handling
- Confidential handling of beneficial owner data
- Compliance with federal privacy requirements
Ongoing Support
- Annual compliance reviews and updates
- Expert customer support when you need help
- Amendment filings for ownership changes
- Additional IncCraft.com available
Our BOIR Filing Process
Initial Consultation & Assessment
We review your business structure to determine BOIR filing requirements and identify all beneficial owners who must be reported.
Secure Information Collection
Using our secure platform, we collect all required company and beneficial owner information, including necessary documentation and identification.
Expert Review & Verification
Our compliance experts thoroughly review all information for accuracy and completeness before submission to FinCEN.
Electronic Filing & Confirmation
We electronically file your BOIR with FinCEN and provide you with confirmation of successful submission and compliance.
Don't Risk Severe Penalties - File Your BOIR Today
The Corporate Transparency Act is federal law with serious consequences for non-compliance. Let IncCraft.com ensure your business meets all BOIR reporting requirements accurately and on time.