Accurate, Simple, & Secure
Online BOI Filing Solution
for your Business
- Supports Initial, Correction, Updated, & Newly Exempt Entity Reports.
-
Free BOI corrections are available when the initial BOI report is
filed with us. - Invite Beneficial Owners via Email to complete their information.
- Resubmit the BOI report for free if it gets rejected by FinCEN.
BOI Filing - An Overview
Under the Corporate Transparency Act (CTA), FinCEN requires most small businesses to report their Beneficial Ownership Information (BOI) starting on January 1, 2024. This law was passed to improve financial transparency and eliminate money laundering and other similar crimes.
Whom Do We Serve?
Businesses
Law Firms
Accountants
Professional service firms
TaxBandits Streamlines Your BOI Filing
with Numerous Features!
Complete Your BOI Report in 5 Minutes
Our intuitive software enables you to prepare and submit your BOI reports with FinCEN in minutes.
Supports Filing of Initial and Updated BOI Reports
With TaxBandits, you can generate and submit Initial as well as updated BOI reports.
File a Corrected BOI Report for Free
If you need to make changes to the BOI report you submitted, you can submit a correction for free
within a week.
Get Instant Status Updates
Once submitted, our software will provide you with instant updates regarding the status of your BOI report.
BOIR Resubmission Guarantee
In case FinCEN rejects your BOI Report, we will help you resolve errors and retransmit it without additional cost.
Invite Beneficial Owners via Email
At TaxBandits, we send an email invitation to Beneficial Owners to complete their information.
PRO Features - Exclusive for Tax Professionals!
Staff Management
- Invite your team to manage your BOI filings
- Track your team members’ filing activities
- You can add unlimited members, providing a unique login for each
- Delegate filing responsibilities to team members
Client Management
- Invite your clients to submit necessary data for BOI filing
- The user-friendly dashboard shows all of your clients' filings at a glance
- The client portal allows you to maintain seamless communication with your clients
- Easily track and manage your clients’ BOI filings from one secure location
Affordable & Efficient Filing
- TaxBandits offers volume-based pricing - The more you file, the more you save
- Complete BOI filings in bulk for multiple clients
- Gain insights from the summary report of your BOI filings
BOI Filing Deadlines
For businesses created or registered before
January 1, 2024
The deadline for the initial BOI report filing is
January 1, 2025.
For businesses created or registered on or after
January 1, 2024
The deadline to file the initial BOI report is within 90 days of
their company registration date.
Note: Late filings can result in fines of $500 per day, up to $10,000
How to File BOI Report Online?
- 1 Enter the Required Details of the Reporting Company
- 2Add Beneficial Owners & Company Applicant Information
- 3Review & Submit BOI Report to FinCEN
Cost to File BOI Report Online with TaxBandits
One Time BOI Reporting
$49
- Flat Fee Per Single Filing
- Free Corrections within one week of filing
Annually Per Entity
$79
- Unlimited Filings per year
-
Unlimited corrections
per year
Lifetime Per Entity
$199
- Lifetime Unlimited Corrections
- Lifetime Unlimited Updates
Annually (Unlimited Entity)
- Unlimited BOI Filings (Initial, Correction, updates)
- Unlimited Companies
Data Security is our Highest Priority!
As a SOC-2 certified provider, TaxBandits safeguards your sensitive information, including PII data like SSNs, using robust security measures.
Frequently Asked Questions about BOI Filings
Generally, the following companies are required to complete BOI reporting:
- Domestic Entities - Any domestic business that operates under U.S. tax laws. This includes corporations, LLCs, limited partnerships, and limited liability partnerships (LLPs).
- Foreign Entities - Any entities that are established outside the United States and conduct business in the U.S.
According to FinCEN, any individual or a group of individuals who has substantial control over the reported company or has at least 25% of the ownership interests of the reported company directly or indirectly. Click here to know more about the beneficial owner(s) of a company.
A company applicant can be an individual who directly files the document that registers the company or the individual who is primarily responsible for the filing (when more than one individual). Click here to know more about the company applicant for a compan
There are 23 types of entities that are exempt from BOI reporting. Here are they,
| Exemption No. | Exemption Short Title |
|---|---|
|
1 |
Securities reporting issuer |
|
2 |
Governmental authority |
|
3 |
Bank |
|
4 |
Credit union |
|
5 |
Depository institution holding company |
|
6 |
Money services business |
|
7 |
Broker or dealer in securities |
|
8 |
Securities exchange or clearing agency |
|
9 |
Other Exchange Act registered entity |
|
10 |
Investment company or investment adviser |
|
11 |
Venture capital fund adviser |
|
12 |
Insurance company |
|
13 |
State-licensed insurance producer |
|
14 |
Commodity Exchange Act registered entity |
|
15 |
Accounting firm |
|
16 |
Public utility |
|
17 |
Financial market utility |
|
18 |
Pooled investment vehicle |
|
19 |
Tax-exempt entity |
|
20 |
Entity assisting a tax-exempt entity |
|
21 |
Large operating company |
|
22 |
Subsidiary of certain exempt entities |
|
23 |
Inactive entity |
Primarily, you’ll need the following information to complete your BOI report
- Reporting company details such as Name, EIN, Address, etc.
- Type of the report (Initial, Update, Correct or Newly Exempt Entity)
- Information about the Beneficial Owners (Name, Date of Birth, Address and Identity Proof)
- Details of the Company Applicant(s) (Name, Date of Birth, Address and Identity Proof)
Visit https://www.taxbandits.com/boi-instructions/ to learn more about BOI filing Instructions.
According to the FinCEN rule specified in the Corporate Transparency Act, anyone who fails to comply with the BOI reporting requirements will be subjected to civil penalties of up to $500/day. Furthermore, there can be criminal penalties of up to two years imprisonment and a fine amount of up to $10,000.
Helpful Resources to File BOI Report Online
BOI Reporting Requirements
FinCEN BOI Report Filing Instructions
BOI Report For LLC
Related Blog for Filing BOI
