As of Jan. 1, 2024, certain types of corporations, limited liability companies and other similar entities created in or registered to do business in the United States must report information to FinCEN about their beneficial owners—the persons who ultimately own or control the company.
BOI reporting is not an IRS program; all inquiries must be directed to FinCEN.
| Ownership Info – File Online | BOI e-filing System File from BOI website, click Beneficial Ownership Information (BOI) Reporting – Get Started You will need: 1. State Issued Photo ID. Must attach to application 2.. Must use Adobe Reader to complete form Note 1. Sole Proprietors don’t need to file 2. LLC must file, cause filed with Secretary of State |
| Financial Crimes Enforcement Network (FinCen) | FinCen – website FinCen website takes you to BOI e-filing system to file report. |
| News Release | Texas District Court Injunction – issued 12/3/2024 Ordered hold on BOI filing nationwide. Release Notice 1/1/2024 |
| FinCEN ID | Info – Instructions | Application A FinCEN ID is a 12-digit number. FinCEN IDs for individuals start with 3, and FinCEN IDs for entities start with 2 |
| FAQ | FAQ Company Closed Before BOI went into effect 1/1/2024: C. 13. Is a company required to report its beneficial ownership information to FinCEN if the company ceased to exist before reporting requirements went into effect on January 1, 2024? Company Opened and Closed in 2024: C.14 Beneficial Owner: D.1 Substantial Control: D. 2 Nonprofits – 501(c)(3) organizations are generally exempt from BOI reporting requirements. However, that assumes a nonprofit already has a 501(c)(3) determination letter from the IRS. If they do not, they are liable to report to FinCEN Partnerships (1065). exempt from filing BOI (do not file); because partnership is not registered / form with state. |
| Info Needed to Submit BOI | Reporting Company – Company doing business in the U.S. – Excludes: (FinCen C.2) Sole Proprietor, General Partnerships, etc. – Info Needed 1. Name as Filed with State 2. DBA, if any 3. EIN / SSN 4. Current U. S. Address Company Applicant – This is the person that filed the documents with the State to create the company – (FinCen E.5) Can be a Maximum of two people: 1. the person who directly files the document with a secretary of state or similar office, and 2. if more than one person is involved in the filing of the document, the person who is primarily responsible for directing or controlling the filing. -Info Needed – for Each Individual (remember maximum 2) 1. Legal Name 2. Date of Birth 3. Address (can be business or residential; inside or outside U.S.) 4. Copy of ID (driver’s license or passport) Each Beneficial Owner – The individual that directly or indirectly controls the company, or owns at least 25% interest in company (FinCen D.1) – There is NO maximum number. All owners must be reported. – Info Needed – for Each Individual (remember NO maximum) 1. Legal Name 2. Date of Birth 3. Residential Address (can be inside or outside U.S.) 4. Copy of ID (driver’s license or passport) — check expire date |