Most LLCs and corporations formed in the U.S. do. There are 23 exemption categories — mostly for larger operating companies, regulated entities, and certain investment vehicles. We assess whether you qualify before we file.

Entities formed before 2024 had until January 1, 2025 to file initially. Entities formed in 2024 had 90 days from formation. Entities formed in 2025 or later have 30 days. Updates after ownership changes are due within 30 days of the change.

What if I missed the deadline?

File as soon as possible. Late filings can still be accepted; the penalty exposure depends on whether the violation was willful. We help you file and document the timeline.

What documents do I need?

A government-issued photo ID image for each beneficial owner (driver's license, passport, or state ID), plus the entity's EIN and formation details.

Do I need to file every year?

No. BOI is not an annual filing. You file initially, then again only if beneficial ownership or company information changes.

BOI filing

BOI reporting, handled before the deadline.

The Corporate Transparency Act requires most LLCs and corporations to file Beneficial Ownership Information with FinCEN. The rules have shifted twice in the last 18 months — we keep track so you don't have to. Initial filings, updates after ownership changes, and clean paperwork.

Email us about this See all services

What this is

Federal reporting most LLC owners didn't know existed.

Starting in 2024, the federal Financial Crimes Enforcement Network (FinCEN) began requiring most LLCs and corporations formed in the U.S. to file a Beneficial Ownership Information report identifying who actually owns and controls the entity. Penalties for non-compliance can hit $500/day. Reporting requirements have changed multiple times since launch (court rulings, exemptions, and new deadlines), so the answer to 'do I need to file?' depends on when you read the question. We track the current rules and file what's required.

What's involved

FinCEN civil penalties can run $500 per day of non-compliance, and willful violations can include criminal penalties. The form itself takes 15–30 minutes if you have the documents in front of you. The trap most owners fall into isn't the initial filing — it's forgetting to update after an ownership change, a new address, or a renewed driver's license. We set up reminders and file the updates when they're triggered.

Common questions

What people ask us about this.

Often paired with

Related services on the menu.

Entity setup

Business Entity Setup and Formation

Most entity setup is templated and fine — until the first tax return reveals you elected the wrong structure for your income.

Explore

Annual reports

Annual Reports and Corporate Maintenance

Every Minnesota LLC and corporation has to file an annual renewal with the Secretary of State.

Explore

Quarterly filings

Quarterly Payroll + Employment Tax Filings

If you have employees, you've got at least four recurring filings every quarter — federal 941, Minnesota withholding, Minnesota unemployment, and the year-end 940.

Explore

30 days to file an update after any ownership change.

The hardest part of BOI isn't the initial filing — it's remembering the 30-day update window. Hand it off and get reminders built in.

Email us about this