BOIR E-Filing System
BOIR E-Filing System
DEADLINE NOTICE: To avoid significant criminal and civil penalties, businesses formed in 2024 must file a Beneficial Ownership Information Report (BOIR) within 90 days of formation. All businesses formed before January 1, 2024, must file by January 1, 2025. Exceptions apply for exempted entities.
- The federal deadline for entities formed prior to 2024 is in 26 days.
Important Information about BOIR
- Enforced by the Financial Crimes Enforcement Network (FinCEN)
- Required for most businesses, unless exempt under the CTA
- Businesses formed in 2024 must file within 90 days of formation
- Deadline for businesses formed before 2024 is January 1, 2025
- Failure to file may result in a $591-per-day fine, up to a total of $10,000
- The federal deadline for entities formed prior to 2024 is in 26 days.
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Frequently asked questions
contact@boir.org. Our representatives are ready to respond promptly.
1. What is the BOIR deadline for businesses formed before January 1, 2024?
2. How can I track my BOIR submission status?
You can track your BOIR submission status by logging into the online portal and using the tracking feature, which provides real-time updates on your submission.
3. What are the requirements for filing a BOIR?
To file a BOIR, you will need to provide the following information:
- The full legal name of your company
- The date of formation or registration of your company
- The name, date of birth, residential address, and a unique identifying number for each beneficial owner
- Information about the individuals involved in the formation of your company
4. When do I need to file a BOIR report?
You must file an initial BOIR report within the specified deadline based on your company’s formation date. After that, you must file an updated BOIR report within 30 days of any changes in your company’s beneficial ownership information.
5. What is the BOIR deadline for my company?
The BOIR deadline depends on when your company was formed or registered:
- Formed before January 1, 2024: You must file your initial BOIR by January 1, 2025.
- Formed in 2024: You have 90 days from the date of formation/registration to file your initial BOIR.
- Formed after January 1, 2025: You have 30 days from the date of formation/registration to file your initial BOIR.
6. What are the key aspects of BOIR reporting?
BOIR reporting involves submitting accurate and complete data on your operations, ensuring compliance with deadlines, and keeping track of submission acknowledgments.
7. What are BOIR exemptions?
BOIR exemptions refer to specific circumstances where certain companies or individuals may be exempt from filing Business Organization Identification Reports (BOIRs). These exemptions are typically granted based on factors like company size, industry type, or specific government regulations.
7. What are BOIR exemptions?
BOIR exemptions refer to specific circumstances where certain companies or individuals may be exempt from filing Business Organization Identification Reports (BOIRs). These exemptions are typically granted based on factors like company size, industry type, or specific government regulations.
8. How can I check if my company is eligible for BOIR exemptions?
To determine your company’s eligibility for BOIR exemptions, you can consult the relevant government regulations or seek guidance from a tax professional. Alternatively, you can use the online portal provided by the concerned authority to check your company’s status.
9. What are the penalties for non-filing or late filing of BOIR?
Failure to file or late filing of BOIR can result in penalties imposed by the concerned authorities. The specific penalties may vary depending on the jurisdiction and the severity of the non-compliance. It is crucial to adhere to the filing deadlines to avoid penalties.
10. How do I file a BOIR petition online?
To file a BOIR petition online, you need to:
- Register on the MCA portal: Create an account on the MCA portal and obtain a user ID and password.
- Prepare the necessary documents: Gather all required documents, including the petition, affidavits, financial statements, and other supporting documents.
- Log in to the portal: Use your credentials to log in to the MCA portal.
- Select the appropriate form: Choose the relevant form for filing a BOIR petition.
- Fill in the required details: Provide accurate information in the online form, including company details, petitioner details, and case details.
- Upload the necessary documents: Attach the scanned copies of the required documents to the online form.
- Pay the requisite fees: Submit the prescribed fees online through the portal.
- Submit the petition: Once all information and documents are verified, submit the petition electronically.