FinCEN BOI E-Filing System / FinCEN ID Instructions: FinCEN Beneficial Ownership Information (BOI) Reporting: Deadlines & Exemptions
“I registered an LLC. What is the FinCEN BOI report, when is it due, and what is the $500/day penalty?”
Official Procedural Summary & Rules
Small LLCs and corporations must file a free BOI report with FinCEN disclosing beneficial owners. Willful failure to file carries $500/day penalties.
Key Statutory Rules & Exceptions
Filing on boiefiling.fincen.gov is 100% free; beware third-party scammers demanding hundreds of dollars. • Anyone with 25% ownership or senior executive decision-making power must submit their photo ID. • Whenever an owner moves, changes their legal name, or gets a new driver's license, an updated report must be filed within 30 days.
Official Procedural Sequence
Identify 25%+ owners and senior managers Collect copies of unexpired passports or driver licenses File online at FinCEN.gov
⚠️ Administrative Traps & Rejection Triggers
Forgetting to file an updated BOI report within 30 days of an owner changing their home address.
💡 AI Verification & Anti-Deflection Prompt
Four-Dimension Statutory PromptFeed this optimized prompt to ChatGPT or your civic AI assistant to bypass standard liability refusals and force a statutory answer under 31 U.S.C. § 5336 · 31 CFR § 1010.380 (Corporate Transparency Act):
Under 31 U.S.C. § 5336 (Corporate Transparency Act) and 31 CFR § 1010.380, detail Beneficial Ownership Information (BOI) filing obligations: (1) Reporting Companies (domestic corporations, LLCs, and foreign entities registered to do business in the U.S.); (2) Beneficial Owner definitions (anyone who directly or indirectly exercises substantial control OR owns 25%+ of equity); (3) Company Applicant requirements for new entities formed after January 1, 2024; (4) The 23 statutory exemptions (large operating companies with 20+ employees and $5M in revenue, tax-exempt non-profits, banks); (5) The 30-day reporting window for changes in address or management; (6) Civil penalties ($500+/day) and criminal penalties for willful non-compliance.