Complete the Beneficial Ownership Information Report with FinCEN

💼The BOIR is a mandatory report for certain types of US entities, such as LLCs, partnerships, and corporations.

📝The report must be completed initially and updated whenever there are changes to the entity's ownership or address.

🌎Foreign companies with operations or registered entities in the US are also required to submit the BOIR.

📄The BOIR can be filed electronically through the FinCEN website using the Beneficial Ownership Information filing system.

⚖️Failure to comply with the BOIR requirements can result in civil or criminal penalties.

Who needs to complete the Beneficial Ownership Information Report?

—LLCs, partnerships, and corporations registered in the United States, including foreign companies with US operations or entities.

Do I need to update the report if there are changes to my entity's ownership or address?

—Yes, the report must be updated whenever there are changes to the entity's ownership or address.

Where can I file the BOIR?

—The BOIR can be filed electronically through the FinCEN website using the Beneficial Ownership Information filing system.

What are the penalties for failing to complete the BOIR?

—Failure to complete the BOIR can result in civil or criminal penalties.

Is my personal information shared when filing the BOIR?

—No, the information submitted in the BOIR is private and will only be accessed by authorized entities in certain circumstances.

00:00Introducing the Beneficial Ownership Information Report (BOIR) with FinCEN, a mandatory report for certain US entities.

02:32Learn how to complete the report initially and update it when there are changes to ownership or address.

05:56Foreign companies with US operations or entities are also required to submit the BOIR.

06:43File the BOIR electronically through the FinCEN website using the Beneficial Ownership Information filing system.

07:58Failure to comply with the BOIR requirements can result in civil or criminal penalties.