BOIR Information

The Financial Crimes Enforcement Network (FinCEN) required Beneficial Ownership Information Reporting (BOIR) is required per the 2021 Corporate Transparency Act (CTA). You are not exempt from reporting.

A reporting company created or registered to do business (i.e.: Secretary of State incorporation or organization date)

· Before January 1, 2024, Must File by January 1, 2025.                              

· Between January 1, 2024, and January 1, 2025, Must File within 90 days. 

· After January 1, 2025, Must File within 30 days.                                        

Step 1. Take a picture of your driver’s license and save it somewhere you can access it to upload to the FinCEN website while you complete the form. 

                   (For some, the smartphone might be the answer for completing the form. Or email yourself the image and download it to the 

                       PC you will use to complete the form.)  No, you cannot complete the form without uploading an image of your license.                 

Use this link to complete the on-line report. https://boiefiling.fincen.gov/boir/html

DO NOT use the download PDF filler form to upload later unless you’re good at that stuff. Just use the on-line form. 

Estimated time to complete – under 15 minutes.

 There are essentially 3 parts.  We recommend answering only the questions with the *RED ASTERISK.  Skip all other questions. 

              Ø Filing Information – answer is: a. Initial Report                                                                                                   

Ø Part I – Your company is the Reporting Company. You will need the company name, address, and EIN.

                               Ø Part II - You are the Company Applicant. No need to request the FinCEN ID account number - just skip it.                             

            You'll need your driver’s license number and license image to upload.                              

     Ø Part III - You are the Beneficial Owner. Use the name and address on your license and upload the image.

                Ø Submit - and keep the copy of your confirmation transcript in a secure location should you need it.                      

Entities that do not file a BOIR may face fines of up to $500 per day for each day the report is not submitted. Additionally, criminal penalties may include fines of up to $10,000 and imprisonment for up to two years. While FinCEN has indicated that they may waive penalties in certain cases for mistakes or omissions that are corrected within 90 days of the deadline for the original report filing, it is uncertain at this point how aggressively BOI penalties will be assessed for late reports, missed deadlines, or incorrect information disclosures and we’d like you to avoid these situations.

If you’d like to read everything first, here is the link

 https://www.fincen.gov/sites/default/files/shared/BOI-Informational-Brochure-April-2024.pdf