BOI Report Status Checker
Find out if your LLC or Corporation needs to file a Beneficial Ownership Information report with FinCEN — and when it's due.
Federal compliance requirement
The Corporate Transparency Act requires most US businesses to file a BOI report with FinCEN. Penalties for non-compliance start at $591 per day. This tool provides guidance only — it is not legal advice.
Large Operating Company Exemption Check
The Beneficial Ownership Information (BOI) report is a federal filing required by the Corporate Transparency Act (CTA) of 2021. It requires most US businesses to disclose information about the individuals who ultimately own or control the company.
FinCEN (Financial Crimes Enforcement Network) administers the BOI filing system. The goal is to combat money laundering, terrorist financing, tax fraud, and other illicit activities by creating a federal database of beneficial owners.
The report includes information about the company itself, its beneficial owners (anyone who owns 25%+ or exercises substantial control), and the company applicants (the people who filed formation paperwork).
Filing is free on the FinCEN website. No annual renewal is required unless your information changes — but you must file an updated report within 30 days of any change.
- Securities reporting issuer
- Governmental authority
- Bank
- Credit union
- Depository institution holding company
- Money services business
- Broker or dealer in securities
- Securities exchange or clearing agency
- Other Exchange Act registered entity
- Investment company or investment adviser
- Venture capital fund adviser
- Insurance company
- State-licensed insurance producer
- Commodity Exchange Act registered entity
- Accounting firm
- Public utility
- Financial market utility
- Pooled investment vehicle
- Tax-exempt entity (501(c))
- Entity assisting a tax-exempt entity
- Large operating company (>20 employees, >$5M revenue, US presence)
- Subsidiary of certain exempt entities
- Inactive entity (existed before 2020, no activity, no foreign owners)
When is my BOI report due?
Existing entities (formed before Jan 1, 2024) had until Jan 1, 2025. Entities formed in 2024 have 90 days from formation. Entities formed on or after Jan 1, 2025 have 30 days.
How much does it cost to file?
Filing directly with FinCEN is free. Third-party services like FormifyAI charge a fee for managed compliance, including ongoing updates and deadline tracking.
What information do I need to provide?
Company name, address, EIN or SSN, and for each beneficial owner: legal name, date of birth, residential address, and an acceptable ID document (passport, driver's license, or state ID).
What happens if I miss the deadline?
Civil penalties of up to $591 per day, plus criminal penalties of up to $10,000 and 2 years imprisonment for willful violations. File as soon as possible to minimize exposure.
Do I need to update my report?
Yes — any changes to beneficial ownership, company name, address, or other reported information must be filed within 30 days.
Can FormifyAI handle this for me?
Yes. FormifyAI's managed BOI filing service handles initial filings, ongoing updates, and deadline tracking — so you never miss a compliance deadline. Available in our Pro and Business plans.
Get managed BOI compliance with FormifyAI
Never miss a deadline. We file, track, and update your BOI reports for you.
This tool provides general guidance and is not legal advice. Consult a qualified attorney for advice specific to your situation. Penalty amounts are adjusted annually for inflation and may vary.