BOI filing – (Beneficial Ownership Information) Cheat Sheet
As you might be aware Financial Crimes Enforcement Network (FinCEN) has mandated the filing of BOI filing – (Beneficial Ownership Information) to promote transparency in business operations by identifying and documenting the individuals who ultimately own, control, or benefit from a company or other legal entity.
- Companies who have been in existence before 01/01/2024 are required to file this report before 12/31/2024.
- Entities formed after 01/01/2024 have an earlier deadline. Further, whenever there is a change in ownership, you must update your BOI filing. Please get in touch with us for further clarification and due dates. Not filing this report has huge penalties.
- To help facilitate this filing requirement we have put together a cheat sheet
How to file BOI report for your reference. It is straightforward – gather your EIN number, DL or other required identification documents, and details of the ultimate owners of the legal entity. Follow the steps as indicated in the attachment. If there is any confusion or questions do not hesitate to contact us.
Once you have filed this information with FinCEN please upload the confirmation document to our portal.
Navigating new U.S. BOI reporting? Accountit, CPA can help! The Financial Crimes Enforcement Network now requires detailed ownership reporting. Don’t get overwhelmed—our expert team is here to guide you through every step. Stay compliant and secure with Accountit, CPA!
