Advantages of Filing BOI Online With ExpressEfile
Cloud-Based Solution
Using our database, you can access your BOI Report anytime and anywhere.
Free Correction
You can file corrections for your BOI report for free within a week of acceptance from FinCEN whenever needed.
Status notification
We will mail your BOI report Filing status once it is filed.
Support various BOI report types
We support various types of BOI reports such as initial, corrections, Updates & New Exempt Entity
Visit https://www.taxbandits.com/efile-boi-report-online/ for more information about BOI Reporting 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 on your BOI Report Filing Online-it takes only 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/boi-filing-instructions/ to know more about BOI Instructions.
Frequently Asked Questions on BOI Report
What is the BOI report?
A BOI (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.
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.
