BOI Filing Guidance & Support
Beneficial Ownership Information (BOI) rules changed significantly in 2025. We help you understand exactly what applies to your company today — and handle the filing if you are one of the entities that still must report.
Talk to Our TeamDo I Need to File?What is BOI reporting?
Beneficial Ownership Information reporting is a requirement created by the Corporate Transparency Act (CTA) and administered by FinCEN (the U.S. Treasury’s Financial Crimes Enforcement Network). A BOI report identifies the individuals who ultimately own or control a “reporting company.” Its purpose is to make it harder to hide illicit activity behind anonymous shell companies. There is no government fee to file a BOI report directly with FinCEN.
Who must file now
Under the current rule, a “reporting company” means only:
- Entities formed under the law of a foreign country that have registered to do business in any U.S. state or tribal jurisdiction, and
- That do not qualify for one of the CTA’s exemptions.
These foreign reporting companies are not required to report any U.S. persons as beneficial owners.
Who is currently exempt
- Companies created in the United States (LLCs, corporations, etc.), regardless of size.
- The beneficial owners of those U.S. companies.
- U.S. persons who are beneficial owners of a foreign reporting company.
- Entities already covered by one of the CTA’s existing exemptions (e.g., certain large operating companies, regulated entities).
Filing deadlines for foreign reporting companies
Registered before March 26, 2025
Initial BOI report was due by April 25, 2025.
Registered on or after March 26, 2025
30 calendar days to file an initial BOI report after receiving notice that the registration is effective.
Information typically required to file
If your company is a foreign reporting company that must file, a BOI report generally includes:
Company details
Legal name, any trade/DBA names, U.S. address, jurisdiction of formation, and taxpayer identification number.
Beneficial owners
Full legal name, date of birth, residential address, and a unique ID (passport or other acceptable document) with an image — for each non-exempt beneficial owner.
Company applicants
For entities registered on or after Jan 1, 2024, the individuals who filed or directed the registration.
How filing works
1. Confirm whether you must file
We review your entity type and formation to determine if the current rule applies to you.
2. Gather the required information
Collect company details and identifying documents for each beneficial owner and company applicant.
3. Prepare and review the report
We prepare the report and check for accuracy and completeness before submission.
4. Submit through the FinCEN BOI E-Filing System
Reports are filed free of charge directly with FinCEN, and you receive confirmation of submission.
5. Keep information current
Changes to beneficial ownership generally require an updated report within 30 days.
Common mistakes to avoid
- Assuming every U.S. LLC must file — most no longer do under the current rule.
- Paying a “fee” to a third party claiming to be FinCEN. Filing directly with FinCEN is free.
- Responding to a “Form 4022” or “Form 5102” request — these are fraudulent; FinCEN has no such forms.
- Missing the 30-day window to update after ownership changes (for companies that must report).
- Relying on outdated online guides written before the March 2025 rule change.
Why ProGuidance Tech Solution
- We track FinCEN rule changes so you always know your current obligation.
- Clear, honest assessment of whether you need to file — no scare tactics.
- Accurate preparation and submission for foreign reporting companies.
- Support integrated with your company formation and ongoing compliance.
Frequently asked questions
My LLC was formed in the U.S. — do I have to file a BOI report?
Under the current interim final rule, U.S.-created companies and their beneficial owners are exempt from BOI reporting. This could change if FinCEN revises the rule, so it is worth reviewing your status periodically.
Is there a fee to file with FinCEN?
No. Filing a BOI report directly with FinCEN is free. Anyone demanding payment “to FinCEN” for filing is likely a scam.
Who still needs to file?
Generally, only entities formed under foreign law that have registered to do business in a U.S. state or tribal jurisdiction and do not qualify for an exemption.
Could the rules change again?
Yes. FinCEN published this as an interim final rule and has signaled it may finalize or further modify the requirements. We monitor updates and advise clients accordingly.
Not sure where your company stands?
Get a clear, current answer on your BOI obligation — and full filing support if you need it.
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