What is the Beneficial Ownership Information Report (BOIR)?
The Beneficial Ownership Information Report (BOIR) is a new requirement under the Corporate Transparency Act (CTA) for U.S. businesses. It's designed to increase transparency in business ownership and help combat financial crimes.
Key Points About the BOIR:
- Required by the Financial Crimes Enforcement Network (FinCEN)
- Applies to most U.S. businesses
- Deadline for filing is January 1st, 2025
- Failure to file can result in penalties of up to $500 per day
What Information is Reported?
The BOIR requires businesses to report details about their beneficial owners, including:
- Full legal name
- Date of birth
- Current residential or business address
- Unique identifying number (e.g., passport or driver's license number)
Why is the BOIR Important?
The BOIR helps:
- Prevent money laundering and other financial crimes
- Improve corporate accountability
- Assist law enforcement in investigations
Need to file your BOIR?
Filing is easy and only takes a few minutes. File today to stay compliant.
File Your BOIR Now
Useful Information
Learn more about the Beneficial Ownership Information Report (BOIR) and how it can help your business stay compliant with the law:
When is the Beneficial Ownership Information Report Deadline?
The deadline for filing the Beneficial Ownership Information Report (BOIR) is January 1st, 2025. This deadline applies to businesses that were registered before
How do I file my BOI Report?
Filing your Beneficial Ownership Information Report (BOIR) is a crucial step to comply with the Corporate Transparency Act (CTA), which aims to increase transpa
Who Needs to File a BOI Report?
The Beneficial Ownership Information (BOI) Report is a key requirement under the Corporate Transparency Act (CTA). The report is designed to increase transparen
What Is BOIR?
BOIR, or Beneficial Ownership Information Report, is a mandatory filing under the Corporate Transparency Act (CTA). The purpose of BOIR is to increase transpare
What Are The BOIR Penalties?
Failing to file the Beneficial Ownership Information Report (BOIR) or providing inaccurate information can result in severe penalties. These penalties are part