{"id":3334,"date":"2024-01-10T19:44:00","date_gmt":"2024-01-10T19:44:00","guid":{"rendered":"https:\/\/www.businessrocket.com\/business-corner\/?p=3334"},"modified":"2024-02-21T19:14:29","modified_gmt":"2024-02-21T19:14:29","slug":"what-is-the-boi-report-how-do-i-submit-it","status":"publish","type":"post","link":"https:\/\/www.businessrocket.com\/business-corner\/start\/what-is-the-boi-report-how-do-i-submit-it\/","title":{"rendered":"What is the BOI Report? How do I submit it?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3334\" class=\"elementor elementor-3334\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4e40f8ea elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4e40f8ea\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-3755c411\" data-id=\"3755c411\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5e84a447 elementor-widget elementor-widget-image\" data-id=\"5e84a447\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"2560\" height=\"1923\" src=\"https:\/\/learn.businessrocket.com\/business-corner\/wp-content\/uploads\/2024\/01\/What-is-the-BOI-Report-How-to-Submit-it.jpeg\" class=\"attachment-full size-full wp-image-3335\" alt=\"What is the BOI Report? How do I submit it?\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-161ca5d3 elementor-widget elementor-widget-heading\" data-id=\"161ca5d3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">What is the BOI Report? How do I submit it<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7acd70e5 elementor-widget elementor-widget-text-editor\" data-id=\"7acd70e5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The BOI Report is the latest beneficial ownership information report being administered by the Federal government, specifically the Financial Crimes Enforcement Network (<a href=\"https:\/\/www.fincen.gov\/boi\">&#8220;FinCEN&#8221;)<\/a>. All newly registered and currently operating businesses in the US are obliged to file this report. A small number of companies are exempt from making the report, yet even those entities must submit the initial report to FinCEN informing them of their exemption.<\/p><h3><strong>When Is The BOI Report Due?\u00a0<\/strong><\/h3><p>The requirements for filing this report vary depending on the date that your business was founded:<\/p><h4><strong>Companies established AFTER January 1st, 2024<\/strong><\/h4><p>Organizations established AFTER January 1st, 2024, will have 90 days to file the report.\u00a0<\/p><h4><strong>Companies established Before December 31st, 2023<\/strong><\/h4><p>Organizations established BEFORE December 31st, 2023, will have until the end of 2024 to file this report. Thus, the deadline is December 31st, 2024.\u00a0<\/p><h3><strong>What are the BOI Penalties for Failure to File the Report?\u00a0<\/strong><\/h3><p>Companies that fail to file the report might face fines of up to $500 every day, according to FinCEN. In order to prevent ongoing fines from the government, it is necessary that this report be submitted on time.<\/p><h3><strong>Why Was The BOI Report Implemented?\u00a0<\/strong><\/h3><p>The federal government brought the BOI (<strong>beneficial ownership information<\/strong>) report into effect to make sure that all United States-based entities disclosed their ownership information to the federal government. By providing this report to the federal government, the government can easily determine who owns each company.\u00a0<\/p><p>The government can now quickly ascertain which organization an individual belongs to in case they are under surveillance. The government is also interested in figuring out if the people living in sanctioned countries have ownership in US-based businesses.\u00a0<\/p><p>With a\u00a0<strong>BOI Report<\/strong>, the government will find it easier to identify which corporations are impacted by new sanctions imposed on nations like North Korea, Russia, or other sanctioned nations on the US list.<\/p><h3><strong>How to File the BOI Report?<\/strong><\/h3><p>To manage all BOI reporting requirements, BusinessRocket has created a whole new department for our clients. Our team is in charge of\u00a0<strong>how to submit a BOI Report<\/strong>\u00a0and is available to answer any inquiries throughout business hours. You can reach us by:<\/p><p><strong>Submit BOI Request by Email:\u00a0<\/strong>You can get started on your report by emailing BuisnessRocket at\u00a0<a href=\"mailto:Sales@BusinessRocket.com\">Sales@BusinessRocket.com<\/a>. Just make sure to provide your organization&#8217;s name, the state in which it was established, and your preferred phone number for a follow-up call.<\/p><p><strong>Submit BOI Request by Phone:\u00a0<\/strong>Dial 888-700-8213 for BusinessRocket and select Extension 1 for our onboarding team. They will let you know about your next steps for your report in detail.\u00a0<\/p><h3><strong>How Much Does It Cost To File The BOI Report?\u00a0<\/strong><\/h3><p>The fee for BusinessRocket&#8217;s BOI Report service is only $99. It is a great deal, considering it covers all filing and processing costs of the report. There are also no extra costs by the government to submit this report.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73e8dc23 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"73e8dc23\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-1a4c5559\" data-id=\"1a4c5559\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1c487bd7 elementor-section-boxed elementor-section-height-default 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No annual &hellip;<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.businessrocket.com\/business-corner\/start\/llc\/new-mexico\/\"> <span class=\"screen-reader-text\">New Mexico LLC Services in 2026<\/span> Read More &raquo;<\/a><\/p><\/span><\/li><li class=\"listing-item\"><a class=\"image\" href=\"https:\/\/www.businessrocket.com\/business-corner\/start\/llc\/montana\/\"><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"100\" src=\"https:\/\/learn.businessrocket.com\/business-corner\/wp-content\/uploads\/2026\/05\/Best-Motana-LLC-Services.png\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"Best Motana LLC Services - Fast and Secure\" \/><\/a> <a class=\"title\" href=\"https:\/\/www.businessrocket.com\/business-corner\/start\/llc\/montana\/\">Montana LLC Services in 2026<\/a> <span class=\"excerpt-dash\">-<\/span> <span class=\"excerpt\">Best Montana LLC Formation Services in 2026 Montana llc formation services cost just $35 in state fee, lowest nationally. 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Start Your Business Today REGISTER AN LLC \u00a0Montana llc formation services cost just $35 in &hellip;<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.businessrocket.com\/business-corner\/start\/llc\/montana\/\"> <span class=\"screen-reader-text\">Montana LLC Services in 2026<\/span> Read More &raquo;<\/a><\/p><\/span><\/li><\/ul><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\n    <div class=\"xs_social_share_widget xs_share_url after_content \t\tmain_content  wslu-style-1 wslu-share-box-shaped wslu-fill-colored wslu-none wslu-share-horizontal wslu-theme-font-no wslu-main_content\">\n\n\t\t\n        <ul>\n\t\t\t        <\/ul>\n    <\/div> \n","protected":false},"excerpt":{"rendered":"<p>What is the BOI Report? How do I submit it The BOI Report is the latest beneficial ownership information report being administered by the Federal government, specifically the Financial Crimes Enforcement Network (&#8220;FinCEN&#8221;). All newly registered and currently operating businesses in the US are obliged to file this report. A small number of companies are &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.businessrocket.com\/business-corner\/start\/llc\/montana\/\"> <span class=\"screen-reader-text\">Montana LLC Services in 2026<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":3,"featured_media":3335,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","postBodyCss":"","postBodyMargin":[],"postBodyPadding":[],"postBodyBackground":{"backgroundType":"classic","gradient":""},"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[8,14,11],"tags":[38],"class_list":["post-3334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-registration","category-manage","category-start","tag-boi-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is the BOI Report? 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