BOIR stands for Beneficial Ownership Information Report. It's a document that businesses need to file to FinCEN to disclose the beneficial owners of the company.  In simple terms, BOI is all about knowing who really owns and controls a business (individuals with substantial control over or 25% or more ownership interest). Our service helps you file this report accurately and efficiently.

If your company is considered as a "reporting company", then you are required to file BOI. But, what is a reporting company? According to FinCEN, there are 2 types of reporting companies.

• Domestic Reporting Companies:
  • These include corporations, limited liability companies, and any other entities formed by filing paperwork with a secretary of state or similar office in the U.S.
• Foreign Reporting Companies:
  • These are entities, like corporations and limited liability companies, established under foreign country laws but registered to operate in the United States by filing documents with a secretary of state or similar office.

In simple terms, any entity formed by submitting business formation documents to a secretary of state or a similar office will be affected.

There are also 23 exemption criteria to evaluate.

Our BOIR Service is designed for small businesses that need to file a Beneficial Ownership Information Report. It's a convenient solution for businesses that want to ensure accurate filing without the hassle.

You can take advantage of our free BOIR assessment to determine whether the BOIR requirement applies to you.

No, after you filled your initial report, if there are any changes to your company, FinCEN may require updated reporting in the future. There are some specific deadlines for reporting both reporting initial report and updated ones.You are required to file an updated report within 30 calendar days whenever there's a change to the information you initially provided.To avoid penalties file your initial and updated reports on time.

Companies existing / incorporated before January 1, 2024:

• File the initial report by January 1, 2025. 

Companies created / incorporated or registered on or after January 1, 2024, and before January 1, 2025:

• File the initial report within 90 calendar days after being notified that the company's creation or registration is effective.
• The 90-day period starts either from when the company is actually notified or when a secretary of state (or similar office) publicly announces the company's creation or registration, whichever comes first. 

Companies created / incorporated or registered on or after January 1, 2025:

• File the initial report within 30 calendar days after being notified that the company's creation or registration is effective.

Buying the service now gives you early access to our service. You'll be among the first to benefit from our expert guidance and streamlined process without a rush, reducing your penalty risks and before the fees increase as the deadline approaches.