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What is the Beneficial Ownership Information Report (BOIR)?
The Beneficial Ownership Information Report (BOIR) is a crucial requirement introduced under the Corporate Transparency Act (CTA) for
businesses in the United States, The BOIR ensures transparency in ownership structures and plays a significant role in combating financial
crimes, such as money laundering.
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​Mandated by: Financial Crimes Enforcement Network (FinCEN)
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Applies to: Most U.S. businesses
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Filing deadline: January 1st, 2025
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Penalties: Up to $591 per day for failure to file
As of 2024, most corporations, LLCs, and other business entities created or registered to do business in the United States are required to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN), meaning most U.S. businesses need to file a BOI report; this requirement is mandated by the Corporate Transparency Act (CTA)
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To avoid criminal & civil penalties, businesses must file a report with the Financial Crimes Enforcement Network (FinCEN) as early as the first 90 days after forming. We can file for you and, with our experienced specialists, help ensure your compliance