A new federal Beneficial Ownership Interest (BOI) filing is required from all entities (corporations, LLC’s, partnerships, etc) this year.
The BOI filing requires an unprecedented disclosure of personal information from owners and officers of entities, including a disclosure of residential information and providing ID, such as a driver’s license or passport. It also goes beyond just current ownership and looks at options for future ownership, officers that have the power of control, and incorporators. In particular, you will need to gather the following information on every owner of a greater than 25% interest, and each officer, director or manager. This must be filed by December 31, 2024 to be in compliance.
For each individual, you will need the following information:
- Full legal name;
- Date of birth;
- Current residential address; and
- A pdf scan of each driver’s license
For business:
- Full legal name;
- Current address; and
- Tax ID number (EIN)
To file, visit: https://boiefiling.fincen.gov/
Download BOI Filing Instructions