What is the BOI Report?
Beneficial Ownership Information Report required by FINCEN
The BOI report is the new Beneficial Ownership Information report being administered by the Federal government, specifically the Financial Crimes Enforcement Network (“FinCen”) . This report is required to be filed by all existing and newly registered companies in the United States. While certain organizations may qualify for exemptions from this reporting obligation, it is important to note that even exempt entities must initiate an initial filing to formally confirm with FinCen of their exempt status.
