Substantial control refers to significant influence over the decision-making processes of a company. It can be determined by assessing factors such as the ability to appoint or remove senior officers, control over financial or operational policies, and other significant management roles. Individuals who hold such influence, either directly or indirectly, are considered to have substantial control and must be reported as beneficial owners. Understanding and identifying substantial control is essential for accurate BOI reporting. Additionally, regular assessments and clear documentation of control structures can help businesses maintain compliance and transparency. Properly identifying individuals with substantial control ensures accurate reporting and minimizes legal risks.