to hide behind sneaky ownership structures and prevent unknown ownership of a US company by non-US persons or entities.

How do I report?

You will report beneficial ownership through FinCEN's website. There is no fee to submit the report. The information needed is pretty straightforward and the time to file is less than 10 minutes. I suggest doing it sooner than later to avoid penalties if you miss the deadline.

Can I have someone else file the report for me?

Yes, there are many Lawyers, CPAs, Accountants, and legal document filing businesses such as Legal Zoom and CorpNet who can file for you if you want to outsource this. My advice is to save your money and take 10 minutes to do it yourself, but if you don't want the headache or you're a procrastinator and want to avoid missing the deadline, then by all means, outsource!

What information do I need?

1. Company legal name and DBAs

2. Employer Identification Number

3. Country of Incorporation

4. State of Business Formation

5. LLC/Corp Address

6. Member's/Owner's Legal Names

7. Member's/Owner's Date of Birth

8. Government Issued ID (must upload picture of ID)

9. BOI Report Submitter Details

How often do I have to file?

Only one time unless ownership or the address changes then the report will need to be updated.

What happens if I don't file before the deadline?

There's a penalty of $500/day

Where do I file the report?

https://boiefiling.fincen.gov/fileboir

Looking for a video to follow along with?

Click here for a video by Hector Garcia-skip to 8:59 if you want to start at the point of where he begins filing the report but he does go through all of the entity requirements prior to that which you may find helpful.

Still have questions?

Head to the FAQ page on the FinCEN website here

Hopefully you found this helpful but feel free to comment if you have questions about filing the BOI report.