What is a Beneficial Ownership Information Report?
Beneficial Ownership Information Reporting, mandated by the Corporate Transparency Act effective January 1, 2024, requires companies to disclose their beneficial owners—those who own or control the company—to the Financial Crimes Enforcement Network (FinCEN). This regulation aims to boost transparency and fight financial crime.
TaxZerone Makes BOI Filing Easy with a Range of Features!
TaxZerone simplifies your information return filing with a user-friendly platform.
Complete BOI Reporting Solution
We support all types of BOI reports, including Initial, Correction, Update, and Newly Exempt Entity filings.
Efficient Bulk Upload
Streamline the process of filing reports for multiple entities with our bulk upload feature, making it easy to manage large volumes.
Secure Beneficial Owner Invitations
Invite beneficial owners to submit their information securely through a protected link.
Unbeatable Pricing
Take advantage of our competitive rates with no hidden costs, offering the best value for your BOI filing needs.
Simple E-Filing
Our user-friendly e-filing system makes FinCEN BOI reporting quick and hassle-free.
Step-by-Step Guidance
Our guided filing feature provides clear instructions and tips throughout the process, ensuring your BOI report is accurate and complete.
Filing your BOI report with FinCEN is easier and more precise with TaxZerone, our sister product. Follow these steps to complete your BOI reporting.
Choose Filing Type: Select the correct filing type for your business.
Enter Company Details: Provide key information about your company.
Submit Applicant Info: Enter details of the person submitting the report.
Report Beneficial Owners: Accurately list those who own or control the business.
Review & Submit: Finalize and submit your BOI report to meet the federal deadline.
To file your BOI Report with FinCEN, you’ll need the following information
Report Type: Select from Initial, Update, Correction, or Newly Exempt Entity.
Reporting Company Details: Include the company's Name, EIN, Address, and FinCEN identifier.
Company Applicant Information: Provide the Name, Date of Birth, address, and identity proof.
Beneficial Owner Information: Include the Name, Date of Birth, Address, and Identity Proof.
Beneficial Ownership Information Report
(BOIR) Filing Deadlines
Your FinCEN BOI Report filing deadline varies based on your company's establishment date
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Beneficial Ownership Information Report and meet all federal deadlines.
Frequently Asked Questions
1. Who needs to file a BOIR?
2. What constitutes a beneficial owner?
3. What happens if I miss the BOIR filing deadline?
4. Can foreign companies be required to file a BOIR?
Foreign companies with operations or business activities in the U.S. may be required to file a Beneficial Ownership Information Report (BOIR) if they meet specific criteria. Generally, if they are registered to do business in the U.S. and meet the definition of a reporting company, they must comply. However, certain exemptions may apply based on the nature and structure of the business.
5. What is considered an exempt entity?
An exempt entity is typically an organization that is not required to pay certain taxes due to its specific nature or function, such as a non-profit, government agency, or religious institution. These entities must meet specific criteria set by the IRS or other governing bodies to qualify for tax-exempt status. They may still need to file informational returns, but they are generally exempt from income tax.