BENEFICIAL OWNERSHIP INFORMATION REPORT (BOIR)
The Beneficial Ownership Information Report (BOIR) is a new Federal requirement under the 2021 Corporate Transparency Act (CTA) for U.S. businesses. It is designed to increase transparency in business ownership and help combat financial crimes. A BOIR is filed with FinCEN on an annual basis. Although it was passed in 2021, the reporting requirement became effective on January 1, 2024.
U.S. Department of Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB)
The Bureau of Engraving & Printing (BEP)
The Bureau of the Fiscal Service
The Inspector General
The Treasury Inspector General For Tax Administration (TIGTA)
The Office of the Comptroller of the Currency (OCC)
The U.S. Mint
The Financial Crimes Enforcement Network (FinCEN)
The Internal Revenue Service (IRS)
What is FinCEN?
The Financial Crimes Enforcement Network (FinCEN), a Bureau of the U.S. Department of the Treasury, supports law enforcement investigative efforts and fosters interagency and global cooperation against domestic and international financial crimes. It also provides U.S. policy makers with strategic analyses of domestic and worldwide trends and patterns.
What does it cost to file a BOIR?
A BOIR can be filed for free directly with FinCEN; however, if you choose a low cost option with a 3rd party provider, you might as well file yourself for free, since the information requested from you will be the same as what will be needed for the free filing.
Our office has a $250 fixed filing fee for a BOIR with up to (4) beneficial owners. Our process includes consultation, research, filing and retention of private and corporate documents in case of audits.
Who should use us for filing?
Serial entrepreneurs face business complexities that create a need for professionals in all sorts of filings. A BOIR is no exception. Compliance is mandatory for all kinds of business types, including a Disregarded Entity such as a Single Member LLC. In addition, ownership is not the only criteria for a disclosure requirement; and, there are some exceptions. We help business owners file their BOIRs correctly.
If you are interested in us filing your BOIR, please contact us.
U.S. Department of Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB)
The Bureau of Engraving & Printing (BEP)
The Bureau of the Fiscal Service
The Inspector General
The Treasury Inspector General For Tax Administration (TIGTA)
The Office of the Comptroller of the Currency (OCC)
The U.S. Mint
The Financial Crimes Enforcement Network (FinCEN)
The Internal Revenue Service (IRS)
