BOI stands for Beneficial Ownership Information — a legal reporting requirement introduced under the Corporate Transparency Act (CTA) and enforced by the Financial Crimes Enforcement Network (FinCEN).
BOI stands for Beneficial Ownership Information — a legal reporting requirement introduced under the Corporate Transparency Act (CTA) and enforced by the Financial Crimes Enforcement Network (FinCEN).
Originally, beginning January 1, 2024, almost all small businesses — including LLCs and corporations — were required to file a BOI report with FinCEN within 30 days of formation. However, in March 2025, a critical update changed the game:
As of March 2025, U.S. companies are no longer required to file BOI reports. Only foreign entities must comply with BOI reporting.
This change offers relief to U.S.-formed companies but maintains strict reporting for foreign reporting companies — meaning, if your business was formed outside the U.S. but registered to operate within it, you still need to file.
A foreign reporting company is any business formed under the laws of another country but registered to do business in a U.S. state or tribal jurisdiction. Examples include:
International holding companies with U.S. operations
Non-U.S. e-commerce businesses registered in Delaware or Wyoming
Foreign-owned LLCs set up to manage U.S. real estate
These entities must file a BOI report unless they qualify for a FinCEN exemption.
The deadlines differ based on when your business was registered in the U.S.:
| Registration Date | BOI Filing Deadline |
|---|---|
| Before March 26, 2025 | April 25, 2025 |
| On or after March 26, 2025 | Within 30 calendar days of formation |
| After January 1, 2026 (when rule may change) | Subject to future FinCEN updates |
⚠️ Even if your business is not operational yet or hasn’t generated income, you must file if registered.
BOI reports collect information about:
These are the people who:
Own 25% or more of the company OR
Have substantial control over decisions (e.g., founders, managers, executive roles)
For foreign companies registered after January 1, 2024, FinCEN also requires the identity of the company applicant:
The person who files the registration documents
Or the person who directly controls that process
For each beneficial owner and applicant, the following must be submitted:
Full legal name
Date of birth
Residential address
A valid identification number (U.S. passport, foreign passport, or driver’s license)
A scanned copy of that ID
Company-level data (name, formation jurisdiction, and address) must also be included.
The penalties for non-compliance are serious:
$500/day for every day the report is late
Up to $10,000 in fines
Possible criminal charges with up to 2 years imprisonment
FinCEN is working with the IRS, law enforcement, and banks to ensure compliance — and foreign businesses are being flagged in underwriting processes if they fail to report.
If you plan to apply for:
A business bank account
Credit cards or loans
Government grants or contracts
…then BOI compliance is essential. More lenders and underwriters are requiring proof of BOI filing before approvals.
A missing BOI report can prevent account opening or funding approvals — even for otherwise strong companies.
Q: My company is inactive. Do I still need to file?
Yes — if it’s a foreign entity registered in the U.S., even inactive businesses must file unless officially dissolved.
Q: How do I know if I’m exempt?
FinCEN provides exemptions for large U.S.-operating companies (20+ employees, $5M+ in revenue), certain regulated industries, and nonprofits — but foreign companies rarely qualify.
Q: Do I need to update the report annually?
No. BOI is a one-time filing unless ownership or key information changes. Updates must be filed within 30 days of a change.
Q: Is my BOI information public?
No. BOI data is stored in a secure FinCEN database and can only be accessed by:
Federal and state law enforcement
Select regulatory agencies
Financial institutions (with your permission)
Q: Can I file the BOI myself?
Yes — but the FinCEN portal can be confusing for first-time filers. If you’re not sure what qualifies as “substantial control” or how to document your ID correctly, we can file for you.
If you’re a U.S.-formed LLC or corporation, you may feel off the hook due to the 2025 exemption. But:
This may be temporary. FinCEN’s March 2025 exemption is an interim rule, and public comment is being reviewed. BOI for U.S. entities could return in late 2025 or 2026.
You still need clean records. Bankers, lenders, and underwriters are starting to expect clarity on business ownership. Even if BOI isn’t required by law, it’s becoming a best practice in the funding world.
If you plan to operate internationally, many countries are increasing transparency requirements for U.S. businesses — and your compliance record will matter.
At BizzHopper, we don’t just help you start a business — we help you structure one that’s built for:
Funding
Credit
Legal protection
Operational legitimacy
When you register through our platform:
We ask the right ownership questions upfront
We track whether you’re required to file BOI or not
We build BOI filing (if needed) into your formation workflow
You can add BOI filing to any package in just one click
Simple forms and no jargon
Step-guided process with expert review
Support for foreign and U.S. clients
Add-ons for EINs, business credit, and more
Compliance-backed documentation
Whether you need BOI filing today or you just want to stay ready for what’s next, we make it easy.
✔️ If you’re a foreign company registered in the U.S. — you must file BOI
✔️ If you’re a U.S. business, no BOI filing is required for now — but we’ll keep you updated
✔️ If you’re forming through BizzHopper, we handle this for you automatically
Ready to stay compliant and funding-ready?
[Get Started With BOI Filing Now]
A registered agent (also known as a resident agent or agent for service of process) is a person or business officially designated to receive legal documents on behalf of an LLC or corporation. They must have a physical address in the state of formation and be available Monday to Friday, 8 a.m. to 5 p.m.
Appointing a registered agent is required by law when forming an LLC or corporation, and their details must be listed in your Articles of Organization or Incorporation.
Failing to designate a registered agent can result in fines, default judgments, or even business suspension or dissolution. Using a third-party agent adds reliability and privacy.
A PO Box or mailbox service is not sufficient—most states require a real, physical address and may dissolve your business for non-compliance.
Bizzhopper’s registered agent services safeguard your business and ensure ongoing compliance with state requirements. With Bizzhopper, you receive:<br/> Timely alerts for franchise tax and annual report deadlines Access to Bizzhopper’s Corporate Compliance Portal with proactive monitoring Fast, accurate handling of service of process, legal notices, tax documents, and official mail Electronic delivery of service of process for added convenience Bizzhopper provides registered agent services for the following business entities: C Corporation S Corporation Professional Corporation (PC) Limited Liability Company (LLC) Professional Limited Liability Company (PLLC) Limited Partnership (LP) Limited Liability Partnership (LLP) Nonprofit Corporation
A registered agent (also known as a “resident agent” or “statutory agent”) is responsible for receiving important legal documents on behalf of your business, including: Official federal and state correspondence Subpoenas for information Tax notices from the IRS and local tax authorities Lawsuits Summonses to appear in court Wage garnishment notices Corporate filing notifications All of these documents will be delivered directly to your registered agent’s physical address in the state where your business operates (not a PO Box).
If your business operates in multiple states, you will generally need to appoint a registered agent in each of those states. For example, if your California-based corporation wants to do business in Nevada, Nevada requires a registered agent with a physical address in the state.
Failure to appoint or renew a registered agent can lead to serious consequences, including the loss of corporate status. Without a registered agent, your business may be considered inactive by the state and lose its good standing. Registered agent services must be updated annually and whenever your business changes.
Yes, Bizzhopper offers registered agent services in all 50 states. Learn more about our services and how we can help keep your business compliant.