BOIR report

Filing a BOIR report for a U.S. company - $50

To submit the BOIR report, you can send the necessary data via email to our office. We will then take care of submitting the BOIR report and send you a confirmation email for record keeping. Our office offers a service that simplifies the BOIR report process for companies and ensures its accuracy to prevent potential errors. Regarding company matters (tax return, company registration, annual maintenance, etc.) it is important to contact a competent, accountable, and credible office. Our BOIR report service fee is 50 USD.

(1) In 2021, the US Congress passed the Corporate Transparency Act (CTA), a federal law, that requires companies (Inc., Co., LLC) to report information about their owners to the Financial Crimes Enforcement Network (FinCEN) by filing a Beneficial Ownership Information Report (BOIR). It's important to note that failure to file a timely BOIR report or provide inaccurate information to FinCEN can result in serious consequences. For instance, those who willfully violate BOIR's reporting requirements may face imprisonment for up to two years, a fine of up to $10,000, and a daily fine of $500 for the duration of the violation.

(2) When is the deadline for the BOIR report submission for the company?

(i) If a company is registered before January 1, 2024, it must submit the BOIR report by January 1, 2025.
(ii) If a company is registered after January 1, 2024, it has 90 calendar days after the company registration to submit the BOIR report.
(iii) If a company is incorporated on or after January 1, 2025, it will have 30 calendar days after the company registration to submit the BOIR report.

(3) Please send the information below by e-mail.

(i) Please provide the following information on behalf of your company:
1. The full legal name of the company,
2. Any alternative name used by the company, if applicable (DBA / doing business as),
3. The company's employment identification number (EIN),
4. The state where the company is registered,
5. The company's current physical address (cannot be a P.O. Box).


(ii)
Please provide the following information for each business owner:
1. Full name,
2. Current address (PO Box not accepted),
3. Copy of a government-issued document (US driver's license/ID/passport or a passport issued by another country).

(iii)
Please take note of the following information: when initiating the registration of a company, the person who starts the process may not be the same person who completes it. For example, if you contact our office to register a US-based company, you will be the person initiating the registration process, while an employee of the Pataki Center will complete the registration. We require the following information:

1. Full name of the person initiating the registration,
2. Current address of the person initiating the registration (PO Box not accepted),
3. Copy of a government-issued document (US driver's license/ID/passport or a passport issued by another country),
Note: starting from January 1, 2024, all companies must provide the information requested in item (iii) above.

(4) Is it mandatory to file a BOIR report every year?
No, there is no requirement for annual reporting. After submitting the initial BOIR report, the company is only required to update it whenever there is a change in the company's life, such as a change in address or ownership.

(5) What should I do if the information previously reported changes?
If there are any changes to the information regarding your company or its beneficial owners that were reported in the BOIR, then your company must file an updated report within 30 days from the date of the change.

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