A beneficial ownership information report identifies non-US persons who ultimately own, control, or benefit from a foreign business entity, even if they do not directly hold legal ownership.
You'll need details about your company, its beneficial owners, and in some cases the company applicant who registered it.
Use the information you gathered to answer our guided questions. We walk you through each field so nothing gets missed.
We file directly with FinCEN on your behalf and keep everything accurate, while you track your filing status online.
Our guided questionnaire is built around FinCEN's current reporting requirements, reducing the risk of a rejected or incomplete filing.
We prepare and submit your report directly with FinCEN, so you're not deciphering federal filing instructions on your own.
Ownership and control can change. We make it easy to update or correct a previously filed report when your company's information does.
What needs to be reported on a BOI Report?
Non-US persons who own 25% or more of a foreign reporting company must be listed, regardless of whether their ownership is direct or indirect. Anyone who exercises substantial control over the company, such as senior officers and key decision-makers, must also be listed even without an ownership stake.
Do US-formed companies need to file a BOI Report right now?
No. Under FinCEN's current interim final rule, US-formed companies and their beneficial owners are exempt from BOI reporting. Only foreign companies registered to do business in the US are currently required to file.
Is this exemption for US companies permanent?
Not necessarily. FinCEN has described the current rule as temporary and has indicated it intends to issue a final rule. Requirements for US-formed companies could change, so it's worth checking back or working with a service that tracks these updates for you.
How long does a foreign company have to file after registering in the US?
Foreign reporting companies generally have 30 days from their registration date, or 30 days from the rule's effective date if they were already registered, to file their initial BOI Report. Confirm your specific deadline at fincen.gov/boi, since extensions and exceptions can apply.
What happens if I need to update or correct a BOI Report?
If your company's beneficial ownership information changes, or you discover an error in a previously filed report, you're required to file an updated or corrected report. LegalNature can help you prepare and submit either type of filing.
