Welcome to The LF Business Suite
Welcome to the LF Business Suite—your one-stop destination for fast, effective solutions to your most urgent financial challenges. No commitment required!
Beneficial Ownership Information Report (BOIR) Filing Services
What is BOI Reporting?
BOI reporting requires certain businesses who are “reporting companies” to disclose ownership details, promoting transparency and compliance with federal anti-money laundering regulations.
Who Needs to File BOI Reports?
Single-member LLCs, sole proprietors, partnerships, and corporations may need to file a BOI report to stay compliant and avoid costly penalties.
Our BOI Filing Process
Our process is simple: we guide you from document collection through filing, ensuring everything is accurate and submitted on time.
Why Choose Us?
With years of experience in compliance and accounting, we make BOI reporting stress-free, so you can focus on your business.
*Please note that the LF service fee applies to each individual filing submitted.
Hiring Us to File
Your BOI Report Is Fast and Easy!
Forming your LLC with us is a streamlined and efficient process. Here’s how it works:
1. Sign Up
Click on the “File BOI” button below, fill out a brief form with some basic details about your business, and complete your payment. It’s that simple.
2. Get Approved
We’ll take care of submitting your Beneficial Ownership Information based on the documents and information you provided and will submit them to FinCEN through their filing portal for approval.
3. It’s Official
Once your BOI Report filing is approved by FinCEN, we’ll notify you immediately. At this point, your BOI Report is officially filed, and you can move forward with including this information in your records. Once you receive approval, you’ll receive copies of all documents.
BOI Report FAQ's
A beneficial ownership information report is a document that identifies the individuals who own or control a company.
Filing this report helps ensure transparency and compliance with legal requirements, preventing fraud and money laundering.
A beneficial owner is any individual who directly or indirectly owns or controls a significant percentage of the company, typically 25% or more.
- A unique business name
- A registered agent and address
- LLC Articles of Organization
- An Employer Identification Number (EIN) if you plan to hire employees or open a business bank account
The report generally requires details such as the beneficial owner’s name, date of birth, address, and the nature of their ownership or control.
The frequency of filing can vary by jurisdiction, but it is often required annually or whenever there are changes in ownership.
Failure to file the report can result in penalties, fines, and potential legal action against the company.
Fines of $500/day, up to $10,000, and 2 years in prison may apply.
The report can usually be filed online through the Financial Crime Enforcement Network (FinCEN) website.
Yes, you can update the information if there are changes in the beneficial ownership details.
- The confidentiality of the information depends on the jurisdiction, but generally, it is protected and only accessible to authorized entities.
You can visit fincen.gov/boi for more information and resources. See below!
*The content provided here is for informational purposes only and should not be considered legal advice or a replacement for professional legal counsel. This information is not intended to establish, nor does your access to or use of it create, an attorney-client relationship or an accountant-client relationship. For more details, please refer to our Terms of Service.
Beneficial Ownership Information
Report Resources
Click the link to be taken to the resource!