Report Beneficial Ownership Information (BOI) to FinCEN

As of January 1, 2024, certain types of corporations, limited liability companies, and other similar entities created in or registered to do business in the United States must report BOI to the Treasury’s Financial Crimes Enforcement Network (FinCEN).
 
FinCEN defines a beneficial owner of a company as any individual who exercises substantial control over a reporting company, or who owns or controls at least 25 percent of the ownership interests of a reporting company.
 
IRS is reminding tax pros that BOI reporting is not an IRS program. All inquiries must be directed to FinCEN. FinCEN’s BOI e-filing system is now available to e-file the beneficial ownership information report. Get additional BOI reporting resources here.