ATTENTION: Small Business Owners

A New Federal Report Is Due Within Weeks
(And It's Required)

The Beneficial Ownership Information Report

Stiff Penalties Apply for Non-Compliance

Deadline for Filing with the Treasury Department
January 1, 2025 or sooner*.

Then you must file recurring updates moving forward!!

*Within 90 days of formation for businesses created in 2024

 

ANNOUNCING!! Your Smart Filing Solution for the BOI Report!

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Not Familiar with the BOI Report?

You're not alone. Even though the law mandating the Beneficial Ownership Information Report passed Congress in January 2021, most people are just now learning about it. The bill gained little public attention when it was before Congress, even though the legislation impacts tens of millions of small businesses.

Follow this link to find out more about the BOI, its purpose, the reporting requirements, and their implications for your business. Also see our FAQs page and the Things You Should Know section below.

 

The Corporate Transparency Act

The Corporate Transparency Act

We Lift the Compliance Burden From Your Shoulders

Compliance BOI™ greatly simplifies BOI reporting to make the process less burdensome and imposing.

Many who have already filed the BOI report describe the experience as confusing, frustrating or even worrisome. Others find that they substantially underestimated the time-demands of filing for themselves.

For many, the Beneficial Ownership Information Report can be frustrating and worrisome.

Compliance BOI™ spares you needless expenditures of time and energy to satisfy your filing requirement.

And our proprietary information-gathering system and superb quality control help assure that your report complies with the Treasury Department's complex requirements.

Let us do the heavy lifting for you.

With our user-friendly, SafeFile System™ and its Smart Screen Technology, you don't spend hours

  • trying to understand BOI requirements
  • determining which BOI rules apply to your situation
  • deciphering what these rules actually mean (they are not always clear)
  • deciding how best to comply with what's required
  • double-checking input to be certain that it is complete, accurate, and properly formatted, and
  • finding qualified, knowledgeable, and reasonably-priced attorney support if you need it

And with our exceptional systems and guidance, Compliance BOI™ is the go-to choice for completing even the most complex Beneficial Ownership Information reports.

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Unsure Whether You Must File?

The odds are, you do — along with about 37 million other small businesses.
It all depends on how your company is structured and organized.

While certain small businesses are exempt, most whose formation involved registration with a state, territorial, or native American tribal government must file a BOI report.

Find out for Free!

Compliance BOI's free online assessment quickly determines whether your business falls into one of about two dozen categories which are exempt from filing the BOI Report.

Who Is Exempt from the
Beneficial Ownership Information Report?

If your business is structured and taxed as a sole proprietorship, the Corporate Transparency Act usually does not apply to it. Your company is exempt from filing even if it uses a DBA or an assumed name.

Your business may also be exempt if it meets BOTH of the following criteria:

  • It has more than 20 fulltime employees, and
  • Its revenue in the preceding year exceeded five million dollars

Other exemptions vary state by state. In most cases, joint ventures and general partnerships are exempt. However, most limited partnerships, limited liability partnerships, LLCs, and corporations must file.

The filing requirement extends to inactive companies which have retained their legal existence. For those formed in 2020 or later, filing is mandatory. Companies formed prior to 2020 are exempt if they meet certain criteria. But this exemption ends if the inactive company resumes business.

The statements above are general in nature and may not apply to your specific situation. Be sure to verify that your company qualifies for an exemption.

Click here for information on additional exemptions.

 

We Make Filing Easy

We Make Filing Easy

You care about your budget and so do we. That's why we price our services at an affordable rate for every business owner. And our fee is less than 70% of the potential financial penalty for just one day of non-compliance.


  • Need to file for multiple entities?
    • We offer volume discounts for more than three filings.
    • Within 60 days of qualifying for a volume discount, you may add additional companies at the discounted fee.
  • Need advice from an attorney before you file?
    • While Compliance BOI™ does not provide legal counsel, we maintain a roster of qualified attorneys.
    • If our SafeFile System™ detects that you may need an attorney's advice, we alert and provide a referral to a qualified attorney. We may also consult an attorney on your behalf as your agent. In any event, you will not be charged for attorney services unless you agree beforehand.
    • You are entirely free to consult with your own attorney, to use legal counsel which we recommend, or not to not use legal counsel at all. We file for you, whatever your choice.
  • Need to amend or update a filing that you've already made?
    • We handle revisions and updates seamlessly.
    • We give updates the same priority and careful attention as first-time reports.
  • Still thinking you might file on your own?
    • Be sure to review the material in the Things You Should Know section below.
    • Consult the Treasury Department Financial Crimes Enforcement Network's BOI website for additional guidance.

Privacy Assurance: We treat your personally identifiable and other private information confidentially and with the utmost care. Click for our Privacy Policy

 

The Beneficial Ownership
Information Report …

The Beneficial Ownership
Information Report …

Things You Should Know

  1. The U.S. Treasury Department's BOI instructions define beneficial ownership in broad terms. Included in the definition are people not normally described as owners. (For more info on this topic, see our FAQs page question, "Who is considered a beneficial owner?")
  2. BOI regulations require you to submit the following personal information for anyone who meets the government's definition of a "beneficial owner":
    • full legal name
    • date of birth
    • current residential address
    • personal identification information
    • a scanned copy of a current government photo ID (e.g., a driver's license or passport)
  3. You must file updated reports whenever any beneficial owner makes a name change, moves to a different address, or replaces the government ID used for prior BOI filings. In addition, certain internal changes can also trigger update requirements. With but few exceptions, updates are due within 30 days of the change.
  4. Updates are also necessary within 30 days whenever someone qualifies for the first time as a beneficial owner or when someone loses that status.
  5. Many CPA firms will not file BOI reports. Advice on how to comply with certain BOI requirements can border on offering legal counsel. In most jurisdictions, CPA's endanger their license if they venture into the practice of law.
  6. Anyone who fails to file or who submits incorrect information can face steep penalties administered by the Treasury Department's Financial Crimes Enforcement Network (FinCEN). These include:
    • Civil penalties of up to $500 per day starting January 2, 2025
    • Criminal fines of up to $10,000
    • Imprisonment for up to two years
  7. If you choose to submit the Beneficial Ownership Information reports on your own, be aware that the instruction manual is dozens of pages long and should be read carefully more than once. Guidance in the manual may be unclear at times regarding your specific situation. Allow plenty of time to complete your report.