Everything you need to know about BOI reporting
The plain-English guide to Beneficial Ownership Information reporting under the Corporate Transparency Act. Who must file, what data is required, deadlines, penalties.
Send it to my email
No spam. Unsubscribe anytime. Privacy policy.
⚠ Updated for 2025 rule change
This guide reflects FinCEN's March 26, 2025 interim final rule. US-formed entities are now exempt from BOI reporting. Only foreign-formed entities registered to do business in any US state must file. Check with our decision tree →
What is inside the BOI guide
- Plain-English explanation of the Corporate Transparency Act
- Who must file (and who is exempt) · 23 exemption categories
- Beneficial owner definition and substantial control criteria
- Required information per beneficial owner
- Initial filing deadline (30 days from formation)
- Update deadline (30 days from any change)
- How to file via FinCEN BOSS system
- Civil penalty ($591/day) and criminal penalty details
- 2026 court status and any rule changes
- Sample BOI report (filled with example data)
Who this is for
Founders forming their first business, accountants advising small business clients, attorneys helping clients with formation, and anyone running a US business who wants the relevant deadlines and decisions in one place.
Why we made this free
File.Business is a business operating system, not a paywalled content factory. We make money when founders use our formation, registered agent, and compliance services. The more accurate information you have, the better choices you make.
Ready to form your business?
File.Business handles formation, registered agent, BOI, annual reports, and the operating tools you need afterward. $0 service fee. Penalty-free guarantee.
Start my business See pricingAt a glance
- What is it
- Boi reporting quick-reference guide is a regulated business process governed by federal or state agencies. File.Business handles the paperwork, filings, and tracking for you.
- Why it matters
- Doing this correctly the first time avoids penalties, late fees, and personal liability exposure for owners.
- Who needs it
- Any US business that has triggered the relevant requirement - usually based on entity type, state, or business activity.
- When it is due
- Deadlines vary by agency and state. We track your specific dates and remind you ahead of any filing window.
- How it works
- Tell us what you need, review the prepared filing, and we submit through the agency's official channel.
- What it costs
- Pricing is shown on this page with state and federal fees disclosed separately from our service fee.
- Risks of skipping
- Penalties, administrative dissolution, loss of liability shield, blocked transactions, or audit triggers depending on the filing.
- Alternatives
- File directly with the agency yourself, hire a law firm, or use a competing service. File.Business is the fastest premium option.