Beneficial Ownership Information Report (BOIR)?
The Beneficial Ownership Information Report (BOIR) is a new requirement under the Corporate Transparency Act (CTA) for U.S. businesses. It's designed to increase transparency in business ownership and help combat financial crimes
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Required by the Financial Crimes Enforcement Network (FinCEN)
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Applies to most U.S. businesses
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Deadline for filing is January 1st, 2025*
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Failure to file can result in penalties of up to $500 per day
What Information is Reported?
The BOIR requires businesses to report details about their beneficial owners, including:
- Full legal name
- Date of birth
- Current residential or business address
- Unique identifying number (e.g., passport or driver's license number)
Why is the BOIR Important?
The BOIR helps:
- Prevent money laundering and other financial crimes
- Improve corporate accountability
- Assist law enforcement in investigations
Need to file your BOIR?
We can help you comply with the CTA requirements and file your BOIR accurately and on time.
