What You Need to Know About BOIR Filing Under the Corporate Transparency Act

If your business is structured as a corporation, LLC, or similar entity in the United States, new federal requirements may now apply to you. Under the Corporate Transparency Act (CTA), most U.S. businesses must disclose information about their beneficial owners—those individuals who control or own a significant portion of the company.

This reporting obligation is formally known as BOIR filing (Beneficial Ownership Information Report), and it’s enforced by the Financial Crimes Enforcement Network (FinCEN) under 31 CFR 1010.380. Failing to comply can result in civil penalties, criminal fines, or even imprisonment.

At FSVPServices.com, we provide a structured, secure, and hassle-free approach to help you meet this new federal mandate with confidence and clarity.

What Is BOIR and Why Does It Matter?

BOIR stands for Beneficial Ownership Information Report. It’s a new requirement that mandates “reporting companies” to file key identifying information about their beneficial owners directly with FinCEN. A beneficial owner is anyone who:

• Owns 25% or more of the company, or
• Exercises substantial control over business decisions or operations

This rule is part of the federal government’s push to improve corporate transparency and combat money laundering, shell companies, and financial crime. That means even small and mid-sized private companies cannot ignore these new requirements.

Who Must File?

Most U.S. companies fall into the “reporting company” category unless they meet a specific exemption (e.g., publicly traded companies, large operating companies with 20+ full-time employees and $5M+ in revenue, or heavily regulated entities like banks and insurance companies). You must file if you are:

• A U.S. corporation, LLC, or similar entity formed by filing with a Secretary of State
• A foreign company registered to do business in the U.S.

Key Filing Deadlines

Company Status	Filing Deadline
Formed before Jan 1, 2024	File by Jan 1, 2025
Formed in 2024	File within 90 days of registration
Formed after 2024	File within 30 days of formation

Missing these deadlines could lead to daily fines of $500, criminal penalties up to $10,000, and up to 2 years in prison for willful violations.

What Does FSVPServices.com Provide?

At FSVPServices.com, we make BOIR filing simple with our 3-step compliance approach:

1. Beneficial Ownership Verification
- We help you identify and verify the individuals who meet FinCEN’s definition of a beneficial owner, and collect the required data:
  - • Full legal name
  - • Date of birth
  - • Residential address
  - • Government-issued photo ID and ID number
  - • Company legal name and tax ID (EIN)
2. Secure BOIR Filing with FinCEN
- We ensure your submission meets all technical formatting and regulatory requirements for proper, timely filing.
3. Record Retention & Audit Readiness
- We store your documents securely, so you’re always ready for updates, audits, or amendments—without scrambling. We also provide ongoing support for changes in ownership or control that require BOIR amendments.

Avoid the Risks. File with Confidence.

Most small business owners are unaware of this new requirement—and noncompliance isn’t just a paperwork issue. With FSVPServices.com, you gain peace of mind and avoid:

❌ Regulatory fines
❌ Criminal penalties
❌ Delays in banking, lending, or partnerships

Get BOIR Compliant Today

Let our experts handle the complexity of FinCEN’s BOIR rule so you can focus on running your business. 👉 Visit FSVPServices.com to get started or schedule your BOIR compliance consultation now.