How do I file beneficial ownership information for my small business?

• US corporations and limited liability companies (LLCs).
• Other US entities that are registered by a state or a Native American tribe, including certain professional corporations, partnerships, registered sole proprietorships, and business trusts.
  • Only sole proprietorships that are registered by a state or Native American tribe are required to file. 
  • The requirement to register a sole proprietorship varies. Check your state’s or tribe’s administrative requirements.
• Foreign corporations, foreign limited liability companies, or other foreign companies registered by a state or Native American tribe.

There are exemptions for certain entities, typically applying to regulated sectors or large or publicly traded entities. Details can be found in paragraph 1.2 of the Small Entity Compliance Guide.

BOI reports must be filed electronically, only through FinCEN’s secure filing system.

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

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.

The company must correct inaccurate information before the later of:

• Ninety days from when the inaccurate information was filed.
• Thirty days from when the company first became aware of the inaccuracy.