Classifying entities for BOI reporting involves determining whether they meet the criteria for reporting companies under the applicable regulations. This classification depends on factors such as the entity's legal structure, size, and type of business activities. Entities may include corporations, limited liability companies (LLCs), partnerships, and trusts. Each classification has specific reporting requirements and thresholds. Accurate classification is essential for ensuring that all relevant entities are included in the reporting process and that their beneficial ownership information is properly disclosed.