Beneficial Ownership Information Reporting
What You Need to Know
Under the Corporate Transparency Act (CTA of 2021), the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is requiring certain businesses to report Beneficial Ownership Information (BOI).
Here are important things to know:
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What is Beneficial Ownership Information reporting?
BOI reporting requires certain companies doing business in the United States to report information about their beneficial owners — the real people who ultimately own or control them. This initiative aims to curb illicit finance and protect U.S. national security.
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Who needs to file a BOI report?
You may need to file a BOI report if your company is:
- A corporation, limited liability company (LLC), or similar entity created in the United States by filing a document with a secretary of state or similar office
- A foreign company registered to do business in any U.S. state or Indian tribe through a similar filing
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What is the deadline for filing a BOI report?
- Companies created before Jan. 1, 2024: Must file by Jan. 1, 2025
- Companies created in 2024: Must file within 90 days of creation or registration
- Companies created on or after Jan. 1, 2025: Must file within 30 days of creation or registration
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How is a BOI report filed?
You can file reports through FinCEN’s secure BOI reporting system: boiefiling.fincen.gov
Visit fincen.gov/boi to learn more.
If you have questions, please refer to FinCEN’s BOI website at fincen.gov/boi or contact a financial or legal professional.
