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Beneficial Ownership Information Reporting
Beneficial Ownership Information Reporting
Who must file?
Most corporations, LLCs, and limited partnerships will likely need to file a BOI report, but some business structures are exempt. Click the link below to complete a free questionnaire to determine if your company is required to file.
Who is a beneficial owner?
- Anyone who possesses or exercises control over twenty-five percent or more of the voting stock or equivalent of the company is also considered a beneficial owner.
- Any individual who, directly or indirectly, can exercise substantial influence over the reporting firm is considered a “beneficial owner.” Chief Executive Officer, President, and General Counsel are all examples of such high-ranking personnel.
Current Court Ruling:
As of January 23, 2025, the requirement to file has been reinstated however FinCEN has not established a deadline.
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Recent Blog Articles
The BOI reporting deadline has been extended to March 21, 2025, but more changes may be coming. Stay informed on the latest updates, compliance requirements, and what your business needs to do now. Read more on AdminBooks.
Protect your QuickBooks Online account from fraud by enabling multi-factor authentication (MFA). Follow our step-by-step guide to secure your financial data today.
The Supreme Court has ruled to reinstate BOI Reporting.
The recent wildfires in Los Angeles County have devastated communities, leaving thousands dealing with property loss, displacement, and financial uncertainty. In response, both the IRS and the State of California have granted tax deadline extensions and financial relief to help individuals and businesses recover.
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