How do I file beneficial ownership information for my small business?
Since January 1, 2024, many companies are now required to report information about the individuals who own them, as a deterrent to financial crimes. The US Financial Crimes Enforcement Network (FinCEN) administers the reporting requirements.
Beneficial ownership information (BOI) reports must be filed through FinCEN’s secure filing system. Log in or sign up for QuickBooks to file your BOI report here.
Who must file?
Foreign corporations, foreign limited liability companies, or other foreign companies registered by a state or Native American tribe.
Exemptions
All entities created in the United States and their beneficial owners are now exempt from the requirement to report beneficial ownership information (BOI) to FinCEN.
How and when are BOI reports filed?
Reporting company
Legal name
Trade name
Address
Jurisdiction of formation
IRS reporting number
Identification number of a foreign jurisdiction if a foreign reporting entity has to be reported
Beneficial owners, and the applicant (if applicable)
Legal name
Date of birth
Address from a passport
Driver’s license or other official document that provides an ID number, jurisdiction, and image
Reporting requirements may be affected by rules concerning:
Intermediate ownership levels
Ownership by a minor child
Community property
Foreign pooled investment vehicles
What if a company's reported information changes or is later found to be inaccurate?
An updated BOI report must be filed within 30 days of any change to previously reported information.
This doesn’t apply to changes in information about the company applicant.
There's no requirement to report a company’s termination or dissolution.
A company that later qualifies for an exemption must file an updated report indicating its newly exempt status.
