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Beneficial Ownership Information (BOI) Filings Effective in 2024




The Beneficial Ownership Information (BOI) is set to come into effect in 2024 and we've laid out the information you'll need to know below.


What You’ll Need to Provide: For this filing, you’ll need to provide details for each beneficial owner, including their legal name, birth date, home address, identifying numbers from licenses, state IDs, or passports, and an image of the associated document. As a reminder, a beneficial owner is any individual that directly or indirectly exercises control over the reporting company or directly or indirectly owns or controls 25% ownership interests of the reporting company.

In addition to beneficial owner information, you will need to provide company details such as its legal name, any "doing business as" (d/b/a) names, jurisdiction information, and taxpayer identification number.


When You Will Need to File This Report: Filing is to be completed between January 2024 and January 2025 and is mandatory for most corporations (S Corp or C Corp) and limited liability companies (LLC), unless your business qualifies for any exemptions. You can find the list of exemptions at this link. 


How We Can Help: The BOI report is separate from our annual tax or accounting services, but we are certainly happy to assist you in filing this report. Do keep in mind that we will be unavailable to assist with BOI reporting during tax season (February through April).

I encourage you to learn more about BOI reporting using this link, and feel free to reach out if you would like our assistance in filing this report or if you have any questions or concerns. We are always here to assist you in navigating the accounting industry changes that impact your business.

Thank you for working with us this year, and we look forward to helping you with your tax engagements soon!

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