BOI E-Filing Made Easy
BOI Filing should be simple. We make it easy to file your Beneficial Ownership Information form online. Get started today and avoid penalties for non-compliance.
What is the Beneficial Ownership Information Form?
The BOI form is a newly introduced requirement under the Corporate Transparency Act, a law aimed at improving transparency in the ownership of companies. The CTA requires certain legal entities, including corporations, limited liability companies (LLCs), and other similar structures, to report information about the individuals who own or control them—referred to as "beneficial owners."
A beneficial owner is generally defined as anyone who:
- Owns or controls at least 25% of the company’s equity
- Has significant influence or control over the company’s operations, finances, or decisions
Who Needs to File?
The filing requirements primarily apply to domestic and foreign legal entities registered to do business in the U.S., such as:
- Corporations
- Limited Liability Companies (LLCs)
- Other similar entities created through a state filing
If your company is required to file the form, your deadline to file depends on when your company was created or registered as defined below:
- Created in 2024: 90 calendar days after creation or registration
- Before January 1, 2024: January 1, 2025
- After January 1, 2025: 30 calendar days after creation or registration
However, there are certain exemptions, including:
- Large operating companies (with 20+ employees and $5 million in revenue)
- Certain regulated entities like banks and insurance companies
- Charitable organizations
For a complete list of filing requirements and exemptions please visit the FINCen FAQ. If your business doesn't fall under one of the exemptions, you must file the BOI form.
What are the Penalties for Non-Compliance?
Failing to file the BOI form, or providing false or incomplete information, can result in significant penalties. Under the CTA, penalties include:
- Civil penalties: Up to $591 per day for each day the violation continues.
- Criminal penalties: Fines of up to $10,000 and/or imprisonment for up to 2 years for willful violations.
It’s important to stay compliant and file your BOI form in a timely manner to avoid these hefty fines and potential legal consequences.
How EFileForMe.com Can Help
At EFileForMe.com, we specialize in handling complex tax reporting and compliance requirements. As the Corporate Transparency Act introduces new responsibilities for businesses, we’re here to guide you through the process of filing your Beneficial Ownership Information form. Our streamlined, secure platform ensures that your information is handled with the highest level of accuracy and efficiency.
Here’s how we make the process easy:
- Quick and Simple: No confusing paperwork—just a streamlined, online submission process.
- Expert Support: We guide you every step of the way to ensure accuracy.
- Safe and Secure: Your sensitive information is encrypted and protected at every stage.
Don’t let non-compliance become a burden. Sign up today and file your BOI form in minutes!
Start Your BOI Filing Now