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BOI REPORT

Original price was: $149.99.Current price is: $50.00.

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Description

What is the 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.

Key Points About the BOIR:

  • Required by the Financial Crimes Enforcement Network (FinCEN)
  • Applies to most U.S. businesses
  • Deadline for filing is January 1st, 2025
  • Failure to file can result in penalties of up to $592 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