BOI REPORT
(Beneficial Ownership Information)

We are pleased to inform you about a requirement issued by the Financial Crimes Enforcement Network (FinCen) of the United States for Limited Liability Companies (LLC) and Corporations in order to collect information related to the beneficial owners of these entities.

 

THE BOI REPORT (BENEFICIAL OWNERSHIP INFORMATION REPORT), is a report required by FinCen for businesses registered as a corporation or LLC in the United States, Puerto Rico or territories.

This report is part of the government's efforts to combat money laundering, terrorist financing and other illicit activities.

 

WHO is required to file?

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The requirement to file the BOI report depends on when your company was registered:

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• Companies Registered Before January 1, 2024: these companies have until January 1, 2025, to file their FINCEN BOI Report.

• Companies registered after January 1, 2024: these companies must file their report within 90 days of registration.

• Future Registrations (After January 1, 2025): companies opening in 2025 or later will have 30 days after registration to file.

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PENALTIES FOR NON-COMPLIANCE

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Ignoring the BOI report can lead to severe consequences.

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Penalties include:

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• Civil Penalties: Up to $500 per day for non-compliance.

• Criminal Penalties: Up to 2 years in prison and fines of up to $10,000.
   

These penalties highlight the importance of filing the BOI Report in a timely and accurate manner.

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Should you wish to engage our services to file the BOI report, contact us for our special rates.

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In order to meet the deadlines established by law, we require that you notify us as soon as possible.

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If you have any questions or need further clarification, please do not hesitate to contact us.

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We are here to provide information and assistance throughout the entire application process.