The deadline to submit the Beneficial Ownership Information Report is January 1, 2025. Failure to file by this date may result in penalties of up to $591 per day.
What is a Beneficial Ownership Information Report (BOIR)?
Starting January 1, 2024, owners of U.S. businesses must adhere to new regulations established by the Corporate Transparency Act (CTA). This federal legislation mandates that business entities disclose ownership information to the Financial Crimes Enforcement Network (FinCEN). If you fail to submit your BOIR by the deadline, you may incur penalties of up to $500 per day.
When is the deadline?
The deadline for submitting your BOIR is January 1, 2025. To avoid incurring penalties, ensure that you file your BOIR by this date.
Am I exempt from filing?
Certain organizations are not required to file the BOIR. These exemptions include:
Publicly traded companies
Non-profit organizations
Entities that employ over 20 individuals and have reported more than $5 million in gross receipts and sales to the IRS
Need to file your BOIR?
Filing is easy and only takes a few minutes. File today to stay compliant.
BOI-Report
The Beneficial Ownership Information Report is not associated with the U.S. Government or the Financial Crimes Enforcement Network (FinCEN).
Boi-report.co is dedicated to simplifying the process for businesses to submit their bottom Beneficial Ownership Information Report. Please note, we are not connected to the U.S. Government or the Financial Crimes Enforcement Network (FinCEN).
File before your federal deadline to avoid a penalty of $591 / Day