Here, we discuss who is a beneficial owner for the purpose of filing a BOI report? The Financial Crimes Enforcement Network (FinCEN) requires reporting companies to submit a Beneficial Ownership Information (BOI) report. The BOI report identifies the beneficial owners of the company and provides additional information for each beneficial owner. This information is collected […]

A BOI report or Beneficial Owner Information report must be filed by most private US companies. Each company must identify the persons who own 25% or more, each control person and the person who filled the articles to first register the company. Further, when changes in ownership or control occur, each company must submit an

Here, we are discussing what specific information your company needs to report to FinCEN? If your company is required to file a BOI report, then your company needs to report the following information: Company Name You must provide your company’s full legal name, meaning the legal name used to establish the company. The company’s full

Here, we discuss who needs to file a BOI report? All US companies must file a BOI report unless exempt from filing. Also, all foreign companies registered to do business in the United States must file a BOI report unless exempt. Companies required to file BOI report To determine if your company needs to file

Here we are discussing who is exempt from filing a BOI report? While most LLCs, corporations, partnerships and other legal entities are required to file a BOI report, certain companies are exempt and do not need to file a BOI report or correct or update a BOI report.    If your company is exempt, it