Are there any exceptions to the BOI reporting requirements?

By
David Senawi
Compliance
2
min read
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Certain entities or circumstances may qualify for exceptions to the Beneficial Ownership Information (BOI) reporting requirements, depending on the specific regulations of the jurisdiction. Common exceptions might include publicly traded companies, government entities, and certain regulated financial institutions, as these organizations are typically subject to other transparency and reporting standards. Additionally, there may be exemptions for companies that meet specific criteria, such as size thresholds or ownership structure complexities. It's essential for companies to understand if they qualify for any exceptions and to document the basis for these exemptions to ensure compliance.

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BOI Compliance, LLC (“BOI Comp”) is not affiliated with the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) directly. FinCEN permits third-party service providers to assist business owners in submitting reports through FinCEN’s BOI E-filing website or an Application Programming Interface. Once BOI Comp submits your report to FinCEN, you will receive confirmation. FinCEN does not charge a fee if you wish to navigate the government’s reporting application process yourself and submit your company’s BOI report directly to FinCEN.