How do I report changes or inaccuracies in previously submitted BOI information?
To report changes or inaccuracies in previously submitted BOI information, businesses must file an updated report with FinCEN. This updated report should clearly identify the changes or corrections needed, such as updates to beneficial owner information, changes in ownership interest, or corrections of any errors. The updated report must be filed within 30 days of discovering the inaccuracy or change. Ensuring timely updates helps maintain compliance and avoid penalties. Regularly reviewing submitted BOI information and promptly addressing any discrepancies can help businesses stay compliant with reporting requirements.