Compliance Guide

BOI Filing: Beneficial Ownership Information Report (2026)

The Corporate Transparency Act requires most US LLCs and corporations to file a Beneficial Ownership Information (BOI) report with FinCEN. Non-compliance carries penalties of $500 per day. Here is everything you need to know.

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boi filing

Short Answer

A BOI (Beneficial Ownership Information) filing is a mandatory report that most US LLCs and corporations must submit to FinCEN, disclosing the individuals who own or control the company. You must report each beneficial owner's name, date of birth, address, and government-issued ID. Failure to file carries civil penalties of $500 per day and potential criminal penalties including fines up to $10,000 and up to 2 years in prison.

What Is BOI Filing?

What BOI Filing Means

FinCEN estimates 32.6 million companies must file BOI reports. BOI stands for Beneficial Ownership Information. A BOI filing is a report submitted to the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of the Treasury. The report identifies the real people who own or control a company, stripping away the layers of corporate structure that can hide true ownership.

The requirement was created by the Corporate Transparency Act (CTA), codified at 31 USC §5336, signed into law on January 1, 2021. The CTA aims to combat money laundering, tax evasion, terrorism financing, and other illicit activities by making it harder to hide behind anonymous shell companies. FinCEN began accepting BOI reports on January 1, 2024. Reports are filed via FinCEN's online portal at fincen.gov/boi.

Who Must File

If you have formed a US LLC, corporation, limited partnership, or other entity by filing with a state secretary of state, you are almost certainly required to file a BOI report. This applies to both domestic and foreign-owned entities. Only 23 categories of entities are exempt, primarily large companies with 20+ employees and $5M+ revenue. The filing is submitted directly to FinCEN through their online portal at fincen.gov/boi, and the information is stored in a secure, non-public database accessible only to authorized government agencies and financial institutions.

If you recently formed an LLC and obtained an EIN, your BOI filing is the next critical compliance step. Learn more about EIN requirements for LLCs.

Who Must File a BOI Report?

FinCEN defines two categories of "reporting companies" that must file a BOI report:

Domestic Reporting Companies

Any entity created by filing a document with a US state secretary of state or similar office. This includes LLCs, corporations (C-Corps and S-Corps), limited partnerships (LPs), limited liability partnerships (LLPs), and certain trusts formed by state filing. If you filed formation documents with any US state, you are a domestic reporting company unless you qualify for an exemption.

Foreign Reporting Companies

Any entity formed under the law of a foreign country that has registered to do business in the United States by filing with a state secretary of state. If you formed a company abroad and then registered it in a US state to conduct business domestically, you must file a BOI report.

23 Exempt Categories

FinCEN exempts 23 categories of entities, including: large operating companies (20+ full-time US employees, $5M+ gross receipts, and physical US office), banks, credit unions, insurance companies, registered broker-dealers, SEC-registered investment companies, public utilities, tax-exempt organizations (501(c)), and certain inactive entities. Most small businesses and newly formed LLCs do not qualify for any exemption and must file.

Not sure if your entity needs an EIN or a BOI filing? Check who needs an EIN and understand your full compliance obligations.

What Information Is Required in a BOI Filing?

Beneficial Owner Definition

A BOI report requires detailed information about both the company and its beneficial owners. A beneficial owner is any individual who directly or indirectly owns 25% or more of the company, or who exercises substantial control over the company (such as a senior officer, director, or anyone with authority over key decisions). FinCEN estimates the average BOI filing takes 30 minutes and requires 11 data points per beneficial owner.

Beneficial Owner Information

Full legal name, date of birth, current residential street address, government-issued ID number (passport, driver's license, or state ID), and image/scan of the identification document.

Companies formed on or after January 1, 2024 must also report information about the company applicant, the person who filed the formation documents with the state. This includes the same four data points: name, date of birth, address, and government-issued ID.

BOI Filing Deadlines by Formation Date

Formation Date	Filing Deadline	Status (April 2026)	Penalty if Late
Before January 1, 2024	January 1, 2025	OVERDUE	$591/day accruing since Jan 2, 2025
January 1 - March 31, 2024	90 days from formation	OVERDUE	$591/day accruing
April 1 - June 30, 2024	90 days from formation	OVERDUE	$591/day accruing
July 1 - September 30, 2024	90 days from formation	OVERDUE	$591/day accruing
October 1 - December 31, 2024	90 days from formation	OVERDUE (likely)	$591/day accruing
January 1 - December 31, 2025	30 days from formation notice	Depends on formation date	$591/day after deadline
2026 and later	30 days from formation notice	Active requirement	$591/day after deadline
Change in ownership info	30 days from the change	Ongoing obligation	$591/day after 30-day window

Required BOI Information: Complete Checklist

Information Category	Required Data	Who Provides It
Company Legal Name	Exact legal name from formation documents	Company
Company Trade Names	All DBAs (doing business as) names	Company
Company Address	Current US street address (no P.O. boxes)	Company
Jurisdiction of Formation	State or tribal jurisdiction where entity was formed	Company
Company EIN/TIN	9-digit EIN or Tax ID number	Company
Beneficial Owner Name	Full legal name (first, middle, last, suffix)	Each owner 25%+ or controller
Beneficial Owner DOB	Date of birth (month, day, year)	Each owner 25%+ or controller
Beneficial Owner Address	Current residential street address	Each owner 25%+ or controller
Beneficial Owner ID	US passport, state ID, or driver license number	Each owner 25%+ or controller
ID Document Image	Clear scan/photo of the identification document	Each owner 25%+ or controller
Company Applicant (post-2024)	Name, DOB, address, and ID of person who filed formation docs	Person who filed

BOI Filing Deadline Details

Formed Before January 1, 2024

Deadline: January 1, 2025. Companies that existed before the reporting requirement took effect had until January 1, 2025 to file their initial BOI report. If you missed this deadline, file immediately to minimize the $500/day penalty accumulation.

Formed in 2024

Deadline: 90 days from formation date. Companies formed on or after January 1, 2024 and before January 1, 2025 had 90 calendar days from their date of formation (or registration) to file their initial BOI report.

Formed in 2025 or Later

Deadline: 30 days from formation date. Companies formed on or after January 1, 2025 must file their initial BOI report within 30 calendar days of receiving notice that their formation or registration is effective.

Changes to Reported Information

Deadline: 30 days from the change. If any previously reported information changes (new owner, address change, new ID document), you must file an updated report within 30 calendar days of the change.

For detailed deadline information and the latest updates on extensions, read our BOI filing deadline guide.

Penalties for Not Filing Your BOI Report

$591 per day in civil penalties (adjusted for inflation)

Per 31 USC §5321, civil penalties of $591/day (adjusted for inflation) accrue for every day your BOI report is overdue. That adds up quickly -- over $4,100 per week and $17,700 per month. The penalty clock starts the day after your filing deadline passes and does not stop until you file.

Up to $10,000 in criminal fines

Willful failure to file or providing false information can result in criminal fines of up to $10,000. This applies to the company as well as any individual who willfully causes the violation.

Up to 2 years imprisonment

In the most serious cases, willful failure to file or filing false information can lead to imprisonment of up to 2 years. Senior officers and anyone who knowingly provides false information to evade reporting are personally liable.

These penalties are severe by design. FinCEN wants to ensure full compliance. The good news: filing is free through FinCEN's online portal, and the process takes about 30 minutes if you have your documents ready. If you want help, ein.so handles BOI filings for $49 via WhatsApp.

Learn more about BOI penalties and enforcement to understand the full scope of consequences.

How ein.so Helps with BOI Filing

Message Us on WhatsApp

Contact ein.so on WhatsApp and tell us you need help with your BOI filing. We respond within hours, not days. No forms to fill out on a confusing government website.

Provide Your Company and Owner Details

We ask you for the required information: your company details (name, EIN, state of formation, address) and beneficial owner details (name, date of birth, address, passport or ID scan). You send everything through WhatsApp chat.

We Prepare and File Your BOI Report

Our team prepares your BOI report and submits it to FinCEN through their official filing system. We verify all information for accuracy before submission to avoid rejection or correction notices.

Receive Your Filing Confirmation

After FinCEN accepts your report, we send you the filing confirmation directly on WhatsApp. You are now compliant with the Corporate Transparency Act. Keep the confirmation for your records.

$49 BOI Filing Service

We handle the entire FinCEN filing process via WhatsApp. Fast, accurate, and stress-free.

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Related Guides

Frequently Asked Questions

What is a BOI filing?

A BOI (Beneficial Ownership Information) filing is a report submitted to FinCEN (Financial Crimes Enforcement Network) that discloses the individuals who own or control a company. The Corporate Transparency Act requires most US LLCs, corporations, and similar entities to file this report. It includes the full legal name, date of birth, residential address, and government-issued ID of each beneficial owner.

Who must file a BOI report with FinCEN?

Most US LLCs, corporations, limited partnerships, and other entities created by filing with a state secretary of state must file a BOI report. Foreign companies registered to do business in the US must also file. There are 23 exemptions, primarily for large operating companies with 20+ employees and $5M+ revenue, banks, insurance companies, and other heavily regulated entities. If your LLC has fewer than 20 employees, you almost certainly need to file.

What is the penalty for not filing a BOI report?

Willful failure to file a BOI report carries civil penalties of up to $500 per day for each day the violation continues. Criminal penalties include fines up to $10,000 and imprisonment for up to 2 years. These penalties apply to both the company and any individual who causes the failure to file or files false information.

What information is required in a BOI filing?

For each beneficial owner (anyone who owns 25% or more of the company or exercises substantial control), you must report: full legal name, date of birth, current residential address, and a unique identifying number from a government-issued ID (passport, driver's license, or state ID) along with an image of that document. The company must also report its legal name, any trade names/DBAs, address, state of formation, and EIN.

When is the BOI filing deadline?

Companies formed before January 1, 2024 had a deadline of January 1, 2025. Companies formed in 2024 must file within 90 days of formation. Companies formed on or after January 1, 2025 must file within 30 days of formation. Check our BOI filing deadline guide for the latest updates on any extensions.

Can ein.so help with BOI filing?

Yes. ein.so offers BOI filing assistance for $49 via WhatsApp. We collect the required information from you, prepare your BOI report, and file it with FinCEN on your behalf. The process is simple: message us on WhatsApp, provide your company and beneficial owner details, and we handle the filing.

Do I need to file a BOI report if I am a non-US resident with a US LLC?

Yes. The BOI filing requirement applies to all US-formed entities regardless of where the owners live. If you are a non-US resident who formed a US LLC, you must file a BOI report with FinCEN disclosing your ownership information. Your foreign passport is an acceptable form of identification for the report.

Do I need to update my BOI filing if my information changes?

Yes. If any information in your BOI report changes (new owner, change of address, new ID document), you must file an updated report with FinCEN within 30 days of the change. Failure to update carries the same penalties as failure to file the initial report.

File Your BOI Report Before Penalties Stack Up

$500/day in penalties for non-compliance. Let ein.so handle your BOI filing for $49.

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