Guide
Beneficial Ownership Information Re Guide
A BOI report discloses beneficial owners of a company to FinCEN. Required for most LLCs and corps. File free at fincen.gov/boi.
What Is BOI
What Is a BOI Report?
The Corporate Transparency Act (CTA) requires most US companies to report their beneficial owners to FinCEN. The BOI report includes:
Company Information
- Legal name, trade names
- Address
- State of formation
- EIN or Tax ID
Beneficial Owner Information
- Full legal name
- Date of birth
- Residential address
- Identifying document (passport, driver's license) + image
Who Is a Beneficial Owner?
| Criteria | Examples | |----------|----------| | 25%+ ownership | Members, shareholders | | Substantial control | CEO, CFO, President | | Senior officers | General counsel, COO | | Important decision makers | Anyone with authority over major decisions |
How to File
How to File a BOI Report
File at fincen.gov/boi. The process takes 15-30 minutes per company.
- Go to fincen.gov/boi
- Click 'File BOIR'
- Enter company details + EIN
- Add each beneficial owner
- Upload ID document images
- Submit
- Save confirmation
The filing is free. See FinCEN BOI filing for the detailed walkthrough.
Related
Related Guides
- BOI filing — Overview
- BOI requirements — Who must file
- BOI penalties — $500/day fine
- BOI for LLC — LLC-specific guide
- BOI cost — Free vs paid services
Frequently Asked Questions
Is BOI filing required?
Yes, for most LLCs and corporations. 23 exemption categories exist for large companies. See BOI filing requirements.
Is BOI filing free?
Yes. Filing directly with FinCEN at fincen.gov/boi is completely free. No government fee exists.
What is the penalty for not filing BOI?
$500 per day civil penalty, up to $10,000 fine, and up to 2 years imprisonment for willful violations.
Who is a beneficial owner?
Any individual with 25%+ ownership interest or substantial control over the company (CEO, CFO, managing member).
Where do I file BOI?
File at fincen.gov/boi. This is the only authorized filing platform. BOI is a federal filing, not a state filing.
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