What specific information does my company need to report?

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’s full legal name and any trade name or DBA name
• Company’s business street address
• Company’s jurisdiction of formation (state or Tribal)
• Company’s ITIN, EIN, SSN or foreign tax ID
• Company’s beneficial owners (link to who is a beneficial owner)
• Company applicant (link to page on this)

Company Name

You must provide your company’s full legal name, meaning the legal name used to establish the company. The company’s full legal name must be the same name that is currently registered with the relevant state or Tribal authority.  

You must report all trade names and doing business as (DBA) names, even if your company is registered with a state or tribal government. If your company is registered with a government authority, you must report its legal name and all trade names or DBA names your company uses. If your company is not registered with a state or Tribal authority, then you must report only the trade names or DBA names used.

A trade name is a name that a business uses other than its legal name. A DBA name is a trade name that is registered with the government.

Company Address

You must report your company’s street address of the principal place of business in the United States.  

If your company’s principal place of business is outside the United States, you must provide the street address of the primary location in the U.S. where the company conducts business.

When you report the address of your business, you must provide your company’s physical street address, not a P.O. box or the address of a company formation agent or other third party.

Company Jurisdiction of Formation or Registration

All companies, including foreign businesses, must report the jurisdiction in which they were formed. You must report the state, tribe or foreign country in which your company was formed.

If your company was formed outside the U.S., then you must report both the foreign country where the company was formed and the state or tribal jurisdiction where your company was first registered in the United States.

Company Identification Numbers

Your company must provide:

• Individual Taxpayer Identification Number (ITIN)
• Employer Identification Number (EIN)
• Social Security Number (SSN) or
• Foreign tax identification number (foreign tax ID).

If you are a foreign company filing a BOI report and you do no have an ITIN, EIN or SSN, then you must provide a foreign tax ID instead.

Company Beneficial Owners

Your company must report the following information about each beneficial owner:

• Full Legal Name
• Date of Birth
• Current Residential Address or Business Address (in most cases, a home address); and
• Identifying number from a valid US passport, a valid state, local, or tribal identification card, a valid state-issued driver’s license or a valid foreign passport each individual, as well as an image of the document that the number is from.

A residential street address is required to establish the identity of a beneficial owner. Your company must report the current residential address of the beneficials owners. The address can be in the United States or a foreign country.  

Post office boxes, private mailboxes, and the addresses of business agents or corporate agents are not residential street addresses and are not acceptable substitutes.

Company Applicant

Your company must provide the following information for the company applicant:

• Full Legal Name
• Date of Birth
• Current Residential Address or Business Address (in most cases, a home address); and
• Identifying number from a valid US passport, a valid state, local, or tribal identification card, a valid state-issued driver’s license or a valid foreign passport each individual, as well as an image of the document that the number is from.

If the company applicant is a business that forms or registers companies, then you must report the business address of the company applicant instead of the residential address.

For all other individuals acting as company applicants, you must provide their home address. The address can be in the United States or a foreign country. Post office boxes, private mailboxes, and the addresses of business agents or corporate agents are not acceptable.

Please note that your company does not need to report a company applicant if the business was formed before January 1, 2024.

Are you wondering if you need to file a BOI Report? Contact us, and we’ll clarify all aspects of the BOI Report related to your company profile!