Is there an appeals process for BOI reporting decisions?

By
David Senawi
Compliance
2
min read
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If a company disagrees with a decision made regarding its Beneficial Ownership Information (BOI) reporting, there may be an appeals process in place. This process allows companies to challenge regulatory decisions, such as penalties for non-compliance or disputes over beneficial ownership determinations. To initiate an appeal, companies typically need to submit a formal request detailing the grounds for the appeal, along with any supporting documentation. It's important to be familiar with the specific timelines and procedures for filing an appeal, as failing to meet these requirements can result in the decision being upheld without further review.

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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.