Get started on your required Beneficial Ownership Information Report

As part of the Corporate Transparency Act, a new federal mandate requires that businesses file a Beneficial Ownership Information Report to avoid criminal and civil penalties. We can help you to file in a compliant and stress-free way for only $99.

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Why use LegalZoom to file a Beneficial Ownership Information Report?

Understanding a new law that carries civil and criminal penalties, including imprisonment and fines, can be daunting. Eliminate the worry and risk of meeting this requirement with our easy and accurate report filing.

Get compliant

Satisfy the Corporate Transparency Act requirement with our help. We’ll file the information about the individuals who own or control your business with the Financial Crimes Enforcement Network (FinCEN).

Make things easier

Save time sifting through the complexities of a new federal law with our fast and easy report filing. We’ll ensure your filing meets all the requirements of the Corporate Transparency Act.

File with confidence

Get peace of mind with our accurate, compliant filing. You can be sure that we’ll include all information required by FinCEN and the new law. Plus, you’ll receive confirmation upon completion of the report.

Choose a plan to meet your compliance needs

One-time filing

Beneficial Ownership Information Report (BOIR)

Get your BOIR filed by us. We'll send your info to FinCEN so you comply with the new rule under the Corporate Transparency Act.

$99

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Annual plan

BOIR plus Compliance Filings

Get BOIR plus help with ongoing compliance for annual reports, the latest state & federal filings, alerts, and more.

$199/year (renews annually)

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Annual plan

BOIR, Compliance Filings plus Licenses & Permits

Get BOIR and Compliance Filings, plus help with licenses and permits to operate legally at the federal, state, county, and city levels.

$299/year (renews annually)

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What is Beneficial Ownership Information Reporting?

You are required to file identifying information about the individuals who directly or indirectly own or control your company with the Financial Crimes Enforcement Network in order to satisfy requirements under the Corporate Transparency Act.

The Beneficial Ownership Information Reporting Rule goes into effect Jan. 1, 2024, and it’s important to understand this new law given the severity of criminal and civil penalties for failure to file, which include imprisonment and fines.
Woman small business owner discussing how to file her Beneficial Ownership Information Report

How to complete the Beneficial Ownership Information Report in 3 easy steps

Correctly reporting the required information about those who own or control your business is key to avoiding serious civil and criminal penalties. We can help you easily and accurately meet those requirements.

Tell us about your beneficial owners

Answer a few simple questions about the individuals who own or control your business so your report is personalized and accurate.

We create and file the report for you

We’ll prepare a personalized report that satisfies the beneficial ownership information reporting requirement, and we’ll file it for you.

Receive confirmation of your filed report

Once we file your personalized report with the Financial Crimes Enforcement Network (FinCEN), we’ll provide confirmation.

Why get help with the Beneficial Ownership Information Report?

Avoid serious penalties

Prevent criminal and civil penalties, including imprisonment for up to two years and/or fines up to $10,000, and civil fines of up to $500/day.

Focus on what matters

Concentrate on your business instead of navigating the complexities of a new federally mandated rule under the Corporate Transparency Act.

Enjoy peace of mind

Feel confident and secure about your business, knowing you’re in compliance with the Financial Crimes Enforcement Network (FinCEN).

Man in red shirt reviewing his Beneficial Ownership Information Report filing

What is the Beneficial Ownership Information Reporting Rule?

The Beneficial Ownership Information Reporting Rule under the Corporate Transparency Act is a new filing requirement of the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury.

The rule creates transparency around company ownership structures and helps the federal government prevent financial crimes and fraud, such as money laundering, corruption, human trafficking, drug trafficking, tax fraud, and fraud against employees, customers, and other businesses.

Beneficial ownership information reporting supports the ongoing focus and efforts of the U.S. government to deter corporations who would hide or benefit from actions that harm others.

Who is a beneficial owner?

A beneficial owner under the Corporate Transparency Act is an individual who directly or indirectly: (1) owns or controls at least 25% of your company’s ownership interests, or (2) exercises substantial control over your business. Common examples of someone that exercises substantial control can include the following:

  • An important decision-maker for the reporting company
  • A senior officer (president, chief executive officer, chief financial officer, general counsel, chief operating officer, or any other officer with a similar function)
  • An individual with the authority to appoint or remove certain officers or a majority of directors (or similar body) of the company

Small business owners laugh while discussing the newly required Beneficial Ownership Information Report.

What are the penalties for not filing?

Each business is responsible for filing a Beneficial Ownership Information Report which includes all of the individuals who control or own the business. However, a beneficial owner of a business who willfully fails to follow the reporting requirement and filing rules, or who misleads the Financial Crimes Enforcement Network, will face personal liability in the form of both criminal and civil penalties for noncompliance with the Corporate Transparency Act.

Failure to comply can lead to criminal penalties of imprisonment for up to two years and/or a fine of up to $10,000, and a civil penalty of up to $500 per day.

Even if a reporting company files the report on time, penalties can be imposed if the report does not include the correct information. It is critical that the reporting company’s filing is accurate. We can help you ensure accurate filing with a simplified reporting and filing process, satisfying the relevant law.

When is the Beneficial Ownership Information Report deadline?

The Beneficial Ownership Information Reporting Rule went into effect Jan. 1, 2024, so it’s important to get informed now about how to satisfy the requirements. The deadline varies depending on your date of formation, which we can help you determine, and we can help you stay on top of the process with notifications leading up to your filing deadline.

Generally, business entities formed before Jan. 1, 2024 will have until Dec. 31, 2024 to file. Business entities formed on or after Jan. 1, 2024 will have 90 days after formation to file. Business entities that amend their formation documents on or after Jan. 1, 2024 will have 30 days to submit a new report.

Taking care of this requirement will help you avoid criminal and civil penalties for failing to comply, including imprisonment for up to two years, a fine of up to $10,000, and/or a fine of up to $500 per day.

A woman and man business partners smiling that they are ready to file a Beneficial Ownership Information Report.

How do I get a Beneficial Ownership Information Report?

With our Beneficial Ownership Information Report service, you’ll be notified when it's time to file your report. We’ll request the information needed to file, and we’ll create an accurate report that includes the identifying information about the individuals who own or control your business, satisfying the beneficial ownership information reporting requirement.

Then, we’ll file for you in a timely manner with the Financial Crimes Enforcement Network (FinCEN) and confirm successful completion for your peace of mind that you’ve satisfied the compliance requirement.

What is in the Beneficial Ownership Information Report?

The Beneficial Ownership Information Report includes several pieces of information about the reporting company, such as its full legal name, any trade or DBA names, its address, federal tax ID number (or EIN), and the jurisdiction where it was created.

The report also includes the owners’ full legal names, birth dates, current addresses, images of acceptable identification documents (such as a passports or driver's licenses), along with the issuing jurisdiction and the document's ID number. If the person who filed your entity formation documents (known as the applicant) is not one of the beneficial owners, the applicant must also provide the same information as the beneficial owners.

Using our service simplifies the process for reporting and filing the required information with the Financial Crimes Enforcement Network, saving you time and stress related to deadlines and accurate filing of your report.

Woman business owner cutting fabric while thinking about her Beneficial Ownership Information Report filing.

How are LLCs impacted by the Beneficial Ownership Information Reporting Rule?

Owners of a limited liability company (LLC) need to file the new report with the federal agency and provide basic contact information about the company and its owners (known as members). This requirement applies to single-member and multi-member LLCs.

Who is exempt from Beneficial Ownership Information Reporting?

Most small business entities are not exempt from this requirement. Entities that are exempt from beneficial ownership information reporting include publicly traded companies, tax-exempt nonprofit organizations, certain large operating companies, and others that meet specific requirements. The Financial Crimes Enforcement Network lists 23 types of exempt entities that do not qualify as reporting companies and certain individuals that can’t be listed as a beneficial owner under the reporting requirement.

Frequently asked questions

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