BOI Report
File your beneficial ownership information report confidently.
IJ Technologies simplifies FinCEN reporting. Define your beneficial owners and Avoid $10,000 penalties. This is a new requirement for all US companies as of January 1, 2024. Contact us today.
BOI Report Requirements
- Owner Name
- Company Name (LLC Name)
- Standard Business Address
- Taxpayer Identification Number (ITN)
- Active Phone Number
What is the Benefical Ownership Information Return (BOIR)?
Beneficial ownership information return is a new requirement for all US companies (including LLCs and C-Corps) to notify the FinCEN regarding identifying information about the individuals who directly or indirectly own or control a company.
Is my company required to file BOIR?
YES, if the company is;
a) A domestic reporting company which is incorporated in the US; or
b) A foreign reporting company which is not incorporated in the US but is registered to do business in the United States
NO, if the company is an exempt entity. You may access the full list of exempt entities here.
What happens if I don't file BOIR in time?
There are severe penalties for failing to file the BOIR on time or providing inaccurate information;
a) Up to 2 years of jail time;
b) $500 per day until the violation is addressed; or
c) $10,000 fine.
