BOI Filing Penalties: $500/Day for Non-Compliance (2026)

$591 Per Day With No Cap

The civil penalty for failing to file a BOI report is $591 per day (adjusted for inflation from the statutory $500) for each day the violation continues. There is no maximum cap on this penalty. That means the fines accumulate indefinitely until you file the required report or the government takes enforcement action. A company that is 30 days late faces $17,730 in penalties. A company that is 90 days late faces $53,190. A company that is one year late faces $215,715.

Penalties for Inaccurate Filings

These penalties also apply to filing a report with false or incomplete information. If FinCEN determines that your report contains inaccurate beneficial ownership data, the $591/day penalty begins accruing from the date the inaccurate report was due to be corrected. FinCEN provides a 90-day safe harbor for voluntary corrections, but only if you catch and fix errors yourself. Filing a sloppy report to meet the deadline can expose you to the same penalties as not filing at all.

The civil penalties apply to the reporting company itself, but individual officers and managers who cause the failure can also face personal liability. FinCEN has the authority to assess penalties against any person who willfully fails to file or willfully causes a company to provide false information. This personal liability makes BOI compliance a matter of individual risk, not just corporate risk.

Federal Criminal Charges for Willful Violations

Beyond civil fines, willful violation of the BOI reporting requirements is a federal crime under 31 USC Section 5336(h). The criminal penalties include fines of up to $10,000 and imprisonment for up to 2 years. Criminal penalties apply to individuals who knowingly and willfully provide false or fraudulent beneficial ownership information, or who knowingly and willfully fail to file a required report.

The criminal standard requires "willfulness," meaning the government must prove that the individual knew about the filing requirement and deliberately chose not to comply. Ignorance of the requirement may serve as a defense against criminal charges, but it does not protect against civil penalties. This distinction means that even if you avoid criminal prosecution by claiming you did not know about BOI reporting, you can still face the $500/day civil fines.

The criminal penalties can also be enhanced if the BOI violation is connected to other crimes, such as money laundering, tax evasion, or fraud. In those cases, the BOI violation becomes an additional charge that increases overall sentencing exposure. FinCEN designed these penalties to make the cost of non-compliance far exceed the cost of filing, creating a strong incentive to comply.

Personal Liability Extends Beyond the Company

The Corporate Transparency Act makes individuals personally liable for BOI violations, not just the company. 5 categories of people face personal exposure: founders, officers, directors, managers, and anyone with authority over the company's filings. Any person who willfully provides false information, willfully fails to file a required report, or willfully causes a company to file inaccurate information faces personal civil and criminal penalties.

For LLCs, the members and managers who control the company's operations bear responsibility. For corporations, the officers and directors bear responsibility. If you delegate the filing to an employee or a third party and they fail to file or file inaccurately, you may still be held liable if you had the authority and obligation to ensure compliance. The duty to file cannot be delegated away.

This personal liability extends to beneficial owners who provide false identifying information. If a beneficial owner gives the company incorrect information about their identity, that individual faces the same $500/day civil penalties and potential criminal charges. Every person involved in the BOI reporting chain has an independent obligation to provide truthful information.

File Immediately to Limit Exposure

If you missed your BOI filing deadline, file immediately. Every day you wait adds $591 to your potential penalty exposure. There is no formal amnesty program for late filers, but filing voluntarily before enforcement action demonstrates good faith and may influence how FinCEN handles your case. The worst outcome is doing nothing and letting penalties accumulate indefinitely. A company that missed the January 1, 2025 deadline and files on April 16, 2026 faces a theoretical exposure of over $278,000 in civil penalties alone.

For inaccurate reports, FinCEN provides a 90-day safe harbor for corrections. If you discover that information in your BOI report is inaccurate and you voluntarily correct it within 90 days of the original filing, you may avoid penalties for the inaccuracy. This safe harbor applies only to corrections, not to reports that were never filed. To use it, submit a corrected BOI report through FinCEN's filing system within 90 days of the original report date.

You must also file an updated BOI report within 30 days whenever there is a change in beneficial ownership information, such as a new owner, a change of address, or a name change. Failing to update within 30 days triggers the same penalties as failing to file the initial report. Keep your BOI information current to stay compliant. Learn about BOI filing deadlines to make sure you never miss a date.

Yes. Your BOI report requires your company's EIN (or Tax ID). FinCEN uses the EIN to identify your entity in their database. If you formed your LLC or corporation but have not yet obtained an EIN, you need to get one before you can complete your BOI filing. The good news is that getting an EIN is fast, so it should not delay your BOI report significantly.

ein.so can handle both your EIN application and your BOI filing. We apply for your EIN first, and once it is issued, we use it to complete your BOI report. This streamlined process ensures both filings are done correctly and on time. For LLCs that need an EIN, we recommend starting the process as early as possible so you have your EIN in hand before the BOI deadline.

Do not let BOI penalties accumulate. The $500/day fine structure means every day of delay costs real money. Whether you file yourself or use ein.so, the important thing is to file accurately and on time. Start your EIN and BOI filing today.