FinCEN Compliance FREE REPORT QUALIFICATION

Do You Need to File a BOI Report?

To help you quickly determine if your LLC or Corporation needs to file a Beneficial Ownership Information (BOI) Report, review the following criteria:

Question 1 – Check All That Apply

Question 2 – Is your LLC or Corporation…

To help you quickly determine if your LLC or Corporation needs to file a Beneficial Ownership Information (BOI) Report, review the following criteria:

No Need to File if You Meet These Conditions:

More than 20 Employees and $5 Million in Sales:
- Your LLC or Corporation has more than 20 full-time employees in the U.S.
- AND your LLC or Corporation had more than $5 million in sales last year.
If both apply, you’re exempt. No BOI Report is required!
Tip: Keep us in mind for future company formations, as BOI Reports are required for new companies within 90 days.
Qualify as a Specific Exempt Entity:
If your LLC or Corporation falls into any of the following categories, you do not need to file:

Publicly Traded Company
Bank or Credit Union
Depository Institution Holding Company
Money Services Business
Broker/Dealer in Securities
Securities Exchange or Clearing Agency
Registered Investment Company/Adviser
Venture Capital Fund Adviser
Insurance Company or State-Licensed Insurance Producer
Commodity Exchange Act Registered Entity
Accounting Firm
Investment Vehicle Managed by a Financial Institution
Financial Market Utility
Tax-Exempt Entity
Subsidiary of an Exempt Entity
Inactive Entity meeting ALL of these:

Formed before January 1, 2020
Not actively engaged in business
No foreign ownership
Ownership unchanged in the past 12 months
Received less than $1,000 in the past 12 months
Holds no assets

You MUST File a BOI Report If:

You do not meet the criteria listed above.

BOI Reports ensure compliance with federal regulations and transparency in ownership.