Beneficial Ownership Information (BOI)
FinCEN's beneficial-owner disclosure required under the Corporate Transparency Act for newly formed US entities.
Definition
Beneficial Ownership Information (BOI) is the disclosure of an entity's beneficial owners filed with the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (31 U.S.C. § 5336). Newly formed US entities must file within 90 days of formation.
Context
BOI is distinct from federal tax filings. FinCEN, not the IRS, administers BOI. Filing is free at fincen.gov/boi.
Example
A Delaware LLC formed in 2026 files BOI with FinCEN within 90 days. The form discloses the beneficial owner's name, date of birth, residential address, and government-ID number.
Common pitfalls
- $591/day penalty for non-filing.
- Beneficial-owner changes (new co-owner, address change) trigger re-filing.
- Often confused with Form 5472; they are separate filings administered by separate federal agencies.