Advantages of Filing BOI Online With our Software
Comprehensive BOIR Solution
We support various types of BOI reports such as Initial, Correct, Updates & New Exempt Entity
Invite Beneficial Owners
Easily invite beneficial owners via a secure link to complete their personal details to complete BOIR easily.
AI-Powered Data Extract
Our AI helps you to eliminate manual entry by extracting the data from the identifying documents you upload.
Schedule your BOI Filing
Plan and Schedule your BOI reports in advance to stay compliant and avoid last-minute hassles.
Free Corrections
Make changes to your BOI filings at no extra cost. Ensure accuracy and compliance without worrying about additional fees.
Engagement Letter
Personalize the engagement letter with custom terms and conditions, auto-fill the client’s information using dynamic tags, request an e-sign, and update your letter at any time.
FinCEN Compliance Reminder
Stay on track with your FinCEN requirements. Receive timely reminders to ensure your filings are accurate and compliant with the latest regulations.
BOIR Protect
Safeguard your Beneficial Ownership Information with BOIR Protect. Ensure your data is secure, compliant, and shielded from unauthorized access with advanced protection features.
Visit https://www.taxbandits.com/fincen-boi/efile-boi-report-online/ for more information about BOI Reporting Software and its simplified features!
Get Started NowHow to File My BOI Report Online?
Filing your BOI report online is so easy. You just have to follow the simple steps below.
Step 1
Enter the Required Information
Step 2
Enter the company applicant and the beneficial owner information.
Step 3
Review and File to FinCEN.
Start Filing your BOI Report Online - In Just a Few Minutes!
Information Needed to File BOI Report Online
Here are the details required to file BOI report online:
The following information is needed to file your BOI Report:
- Report type: Initial, Update, Correct, or Newly Exempt Entity.
- Reporting Company Details: Name, EIN, Address, FinCEN identifier, etc.
- Company Applicant Details: Name, Date of Birth, address, and identity proof.
- Beneficial Owner Details: Name, Date of Birth, Address, and Identity Proof.
Visit https://www.taxbandits.com/fincen-boi/boi-instructions/ to know more about BOI Instructions.
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Make the smart choice of e-filing BOI Report with our Software
Pricing to file BOIR with our Software
Affordable Plans Tailored to Simplify Your Filing Needs!
Pricing starts at just $49/ Report
Frequently Asked Questions on BOI Report
What is the BOI report?
A BOIR (Beneficial Ownership Information Report) is a document companies must file with FinCEN (Financial Crimes Enforcement Network) to report their beneficial ownership information. This is required under the Corporate Transparency Act, which aims to identify the individuals who ultimately own or control these businesses. FinCEN began accepting these reports on January 1, 2024.
Who must file the BOI report?
FinCEN requires reporting companies to submit the information on the Beneficiary's ownership. Domestic and foreign firms (established outside of the United States) are reported among these.
Domestic reporting businesses are corporations, limited liability companies, and other entities formed by filing a document with a secretary of state or a similar office under the laws of a state or Indian tribe.
Foreign reporting businesses are corporations, limited liability companies, and other entities formed in another country and registered to do business in the United States or any Tribal jurisdiction by submitting a document to the secretary of state or any similar office under the law of a U.S. state or Indian tribe.
When is the deadline to file your BOI report?
For LLCs, corporations, and other entities that must comply and file a BOI report (called “reporting companies”), the following deadlines apply:
- Reporting Companies established or registered to do business in the United States before January 1, 2024, must file an initial report by January 1, 2025.
- Reporting Companies formed or registered to do business in the United States on or after January 1, 2024, must file an initial report within 90 days of formation or registration.
- Reporting Companies formed or registered to do business in the United States on or after January 1, 2025, must file an initial report within 30 days of incorporation or registration.
Visit https://www.taxbandits.com/fincen-boi/boi-deadline/ to learn more about the boi deadline.
Are there any penalties for filing BOI reports late?
Yes! According to the FinCEN rule outlined in the Corporate Transparency Act, failure to comply with BOI reporting obligations may result in civil penalties of up to $500 per day. Additionally, criminal penalties may include up to two years of prison and a $10,000 fine.
Click here to learn more about boi penalties.
Who is exempt from filing the BOI Report?
Entities exempt from filing the BOI (Beneficial Ownership Information) Report include:
- Large Operating Companies meeting size and revenue thresholds.
- Tax-exempt organizations under 501(c) of the IRC.
- Publicly Traded Companies are subject to SEC reporting.
- Government-owned entities at federal, state, or local levels.
- Financial Institutions are regulated by federal authorities.
- Inactive Entities with no business or assets.
- Subsidiaries of Exempt Entities wholly owned by already exempt organizations.
These exemptions are defined under the Corporate Transparency Act. To know more about BOIR Exemptions visit https://www.taxbandits.com/fincen-boi/boi-exemptions/.
