Description

A BOI (Beneficial Ownership Information) Report is required to inform the U.S. government about who owns and controls a business. It helps prevent fraud, money laundering, and illegal activities. If you don’t file this report, you may face fines of up to $500 per day and even criminal charges.

Filing a BOI report is simple and free through FinCEN (Financial Crimes Enforcement Network). It includes details like the LLC owner’s name, address, and identification. This report helps businesses stay legally compliant and avoid penalties. If you don’t file, your business could face legal issues, fines, or even be shut down.