BOI Filing Step-by-Step Guide
Easybrise Team
Compliance Specialist
Beneficial Ownership Information (BOI) reporting is a federal requirement under the Corporate Transparency Act. Under FinCEN's final rule effective August 14, 2026, all US-formed LLCs and corporations are permanently exempt from BOI reporting. Only foreign reporting companies must file. This guide explains who still needs to file, what information is required, and how to complete a BOI report with FinCEN.
What is BOI Filing?
The Corporate Transparency Act (CTA) requires foreign reporting companies to report their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). This is separate from state filings. Under FinCEN's final rule effective August 14, 2026, all US-formed LLCs and corporations are permanently exempt from BOI reporting. Only foreign reporting companies must file.
Who Needs to File?
Only foreign-formed entities that are registered to do business in a US state must file a BOI report. Entities created in the United States — including single-member LLCs, multi-member LLCs, and corporations — are exempt from BOI reporting, regardless of whether the owners are US citizens, residents, or non-residents.
Under FinCEN's final rule effective August 14, 2026, all US-formed LLCs and corporations are permanently exempt from BOI reporting. Only foreign reporting companies must file. Foreign reporting companies must file within 30 calendar days of US registration and report changes within 30 days.
BOI Filing Deadlines
| Entity Type | Filing Requirement |
|---|---|
| Formed in the United States (LLC or corporation) | Exempt — no filing required |
| Formed abroad, registered in a US state | Foreign reporting companies must file within 30 calendar days of US registration and report changes within 30 days. |
| Changes to previously reported information | Foreign reporting companies must file within 30 calendar days of US registration and report changes within 30 days. |
Information Required for BOI Report
Company Information
- Legal company name
- Any trade names or DBAs
- Principal US business address
- State of formation
- EIN or Tax ID number
Beneficial Owner Information
A beneficial owner is any individual who owns 25% or more of the company OR exercises substantial control over it. For most single-member LLCs, this is simply the owner.
- Full legal name
- Date of birth
- Current residential address
- Unique identifying document (passport, driver's license)
- Document image upload
How to File Your BOI Report (Foreign-Formed Entities)
Gather Required Information
Collect your company formation documents, EIN, and passport or ID for all beneficial owners.
Access FinCEN Filing System
Go to boiefiling.fincen.gov and select 'File BOIR' to start your Beneficial Ownership Information Report.
Enter Company Information
Provide your LLC's legal name, address, formation state, and EIN exactly as registered.
Add Beneficial Owners
Enter information for each beneficial owner including name, DOB, address, and ID document.
Upload ID Documents
Upload a clear image of each beneficial owner's passport or government-issued ID.
Submit and Save Confirmation
Review, submit, and save your confirmation number. Keep this for your records.
Keep Your Report Updated: Foreign reporting companies must file within 30 calendar days of US registration and report changes within 30 days.
Penalties for Non-Compliance
Civil penalties of up to $606 per day may apply to foreign reporting companies that fail to file or update, with possible criminal penalties for willful violations. Under FinCEN's final rule effective August 14, 2026, all US-formed LLCs and corporations are permanently exempt from BOI reporting. Only foreign reporting companies must file.
Frequently Asked Questions
Common Mistakes to Avoid
- Assuming a US-formed LLC must file — it is exempt; missing the 30-day window applies only to foreign-formed entities
- Not including all beneficial owners (25%+ or substantial control)
- Using an old or expired passport
- Providing residential address when business address is required
- Not saving the confirmation number
- Forgetting to update when information changes
BOI Filing Checklist
Complete checklist for filing your BOI report
Checklist Preview:
- Confirm whether you must file (US-formed entities are exempt)
- Gather Certificate of Formation
- Have EIN confirmation ready
- List all beneficial owners
- Collect passport/ID for each owner
- +6 more items...
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