As part of the Corporate Transparency Act (CTA), all businesses are required to disclose their beneficial owners – the individuals with significant control over the company. This helps fight financial crime by bringing transparency to business ownership.
Deadlines to complete the BOI filing:
- Companies incorporated before 2024: the final deadline to file is December 31st, 2024.
- Companies incorporated in 2024: 90 days from the incorporation date.
- If any information changes: the company must file an updated report no later than 30 days after the date of the change.
For Agent Autopilot subscribers, Firstbase will handle the BOI filings and we will keep you updated about the process. In case you are an Agent Light subscriber, you’ll receive reminders so that you don’t miss the deadline, but keep in mind that your company will be responsible for completing it's BOI filing.
How to file the BOI:
- Visit https://boiefiling.fincen.gov/
- Click on "File BOIR".
- Select "File Online BOIR".
- Answer all the questions truthfully and carefully. You'll need information about your company and its beneficial owners, including names, addresses, and dates of birth.
- Review your report and submit it electronically.
- If you are an Agent Light subscriber you should have received - or will receive soon - an email with some instructions
Don't worry, it's free! There are no fees associated with filing your BOI. And you’ll only need to file again in case any of that information changes. If that happens, you must file another BOI report within 30 days from the date that the change occurred.
Need help?
For more info, check the official FAQ (link 1 / (link 2) from FinCEN (Financial Crimes Enforcement Network). And if you have any questions or encounter difficulties while filing your BOI report, feel free to contact us.
Remember: Filing your BOI report is crucial for complying with the CTA and combating financial crime. If a company fails to file it on time or if there is any false information it could lead to civil and criminal penalties as well as the loss of good standing of your company.
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