File Your BOI Report with Eco-Fyle!
Eco-Fyle, powered by Eco-Tax, is our dedicated platform for business compliance services, including Beneficial Ownership Information (BOI) reporting. We’re here to make compliance simple and hassle-free.
New Reporting Rules
Businesses registered with the state must now report who owns and controls it.
Avoid Costly Penalties
Ensure accurate BOI reporting to avoid $10,000 fines and other penalties.
Critical Deadlines
Don’t miss key BOI filing dates to stay compliant and avoid complications.
New Reporting
What is the BOI?
Under the Corporate Transparency Act (CTA), the Beneficial Ownership Information (BOI) Reporting Rule mandates that businesses, such as LLCs and corporations registered with the state, disclose the identities of individuals who ultimately own or control them. Businesses must submit a BOI report detailing these individuals, enhancing transparency and aiding in the prevention of financial crimes such as money laundering, corruption, and tax evasion.
penalties
Avoid Penalties for Non-Compliance
Failing to comply with BOI reporting can lead to severe penalties, including civil penalties of up to $591 per day, fines of up to $10,000, and imprisonment for up to two years. Our streamlined process ensures accurate reporting, helping you stay compliant and avoid these penalties.
deadlines
Key Deadlines for BOI Reporting
- Existing Companies: Companies created or registered before January 1, 2024, must file their initial BOI report by January 1, 2025.
- Companies Formed in 2024: Companies created or registered between January 1, 2024, and January 1, 2025, must file their initial BOI report within 90 calendar days of receiving notice that their creation or registration is effective.
- Companies Formed after January 1, 2025: Companies created or registered on or after January 1, 2025, must file their initial BOI report within 30 calendar days of receiving notice that their creation or registration is effective.
Frequently Asked Questions
A Beneficial Ownership Information (BOI) report must be filed by a wide range of business entities, including:
- Corporations and LLCs: Both domestic and foreign corporations and limited liability companies (LLCs) registered to do business in the United States.
- Partnerships: Limited partnerships (LPs), limited liability partnerships (LLPs), and limited liability limited partnerships (LLLPs) that are registered with the state.
- Business Trusts and Statutory Trusts: These entities, often used for holding assets, must also comply with BOI reporting requirements.
- Other Similar Entities: Any other entity created by filing a document with a secretary of state or similar office, or that is formed under the laws of a foreign country and registered to do business in the U.S.
Exemptions: Some entities are exempt from filing, such as:
- Certain regulated entities like banks and insurance companies.
- Large operating companies that meet specific criteria.
- Entities already subject to other beneficial ownership reporting requirements.
If your business falls into any of these categories, you are required to file a BOI report to ensure compliance with the Corporate Transparency Act.
Filing a Beneficial Ownership Information (BOI) report with Eco-Fyle’s BOI Service is a streamlined and efficient process designed to ensure compliance and accuracy. Here’s how it works:
- Provide Beneficial Owner Information
- You start by sharing details about the individuals who own or control your business. This includes names, addresses, dates of birth, and identification numbers (e.g., passport or driver’s license numbers). You’ll answer a few simple questions to ensure your report is accurate and tailored to your specific situation.
- Report Preparation and Filing
- Our team of experts prepares the BOI report to meet all reporting requirements. We ensure that all necessary information is included and accurately presented. Once the report is ready, we handle the filing process with the Financial Crimes Enforcement Network (FinCEN) on your behalf, ensuring everything is done correctly and on time.
- Receive Official Confirmation
- After your report is successfully filed with FinCEN, we provide you with an official confirmation. This confirmation ensures that your business is compliant with BOI reporting requirements.
With Eco-Fyle’s BOI Service, the process of BOI reporting is simplified and hassle-free, allowing you to focus on your business while we handle the compliance details.
Using Eco-Fyle’s service for Beneficial Ownership Report submission offers several key advantages. Our team of experienced professionals provides expert guidance by staying up-to-date with the latest regulatory changes, ensuring that your reports are accurate and compliant with all legal requirements.
We simplify the complex BOI reporting process, making it easy for you to provide the necessary information without hassle. Additionally, we help you meet all critical deadlines, preventing costly penalties and legal issues associated with late or incorrect filings. Our cost-effective solutions help you avoid hefty fines of up to $10,000 and daily penalties by ensuring your reports are submitted correctly and on time.
With Eco-Fyle’s service, you can focus on running and growing your business, knowing that your compliance needs are handled by experts. You benefit from a seamless and efficient BOI reporting process, backed by our commitment to accuracy and compliance. For more information, visit Eco-Fyle’s BOI Service.
Simplify BOI Reporting with Eco-Fyle
Navigating a new law with potential civil and criminal penalties can be daunting. Why take the risk? Choose Eco-fyle for BOI reporting and eliminate the worry. Our easy, accurate, and hassle-free report filing ensures you meet your compliance requirements with confidence.
Ensure Legal Compliance
Stay on the right side of the law by filing your BOI report. Compliance with the Corporate Transparency Act (CTA) is not just a legal requirement; it’s essential to safeguard your business’s legal standing.
Shield Yourself from Penalties
Don’t risk fine $10,000 penalty and up to two years imprisonment for failing to file BOI. Our BOI reporting service can help you avoid hefty penalties, allowing you to allocate resources more wisely.
Trust in Expert Guidance
Put your BOI reporting in the hands of experienced professionals. Our team ensures accuracy and compliance with ever-changing regulations, so you can focus on your core business activities with peace of mind.
Streamline Compliance Efforts
BOI reporting can be complex and time-consuming. Partner with us to streamline the compliance process and devote your energy to growing your business. Choose ongoing support for year-round peace of mind.