Tax
BOI Reporting Services
Understand your business’s beneficial ownership reporting obligations with professional guidance from The Accounting Firm LLC. We help businesses determine whether BOI reporting requirements apply and assist eligible entities with required filings under current FinCEN rules. Important: U.S.-created companies are exempt from federal BOI reporting under the current regulations.
Understanding BOI Reporting Requirements
Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act have changed significantly.
Under FinCEN’s final rule (opens in a new tab), effective August 14, 2026, entities created under U.S. law are exempt from federal BOI reporting requirements.
Certain entities formed under foreign law and registered to conduct business in the United States may still be required to submit BOI reports, unless an applicable exemption applies.
Reporting companies generally are not required to report beneficial ownership information concerning U.S. persons.
At The Accounting Firm LLC, we assist businesses with evaluating their reporting status, reviewing applicable requirements, and preparing filings when reporting is required.
Our objective is to help businesses understand their actual obligations without encouraging unnecessary filings.
Our BOI Reporting Services
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BOI Reporting Requirement Assessment
We review an entity’s formation, registration, and organizational information to help determine whether federal BOI reporting requirements apply. Our assessment identifies whether the entity falls within the current reporting framework.
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Entity Classification and Exemption Review
We evaluate the entity’s classification and potential exemptions under applicable FinCEN rules. This includes distinguishing exempt U.S.-created entities from foreign-created entities that may remain subject to BOI reporting.
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Beneficial Ownership Information Review
For entities required to report, we assist with identifying and reviewing the ownership, control, and other information required for an accurate BOI submission. Information concerning U.S. persons is handled in accordance with current reporting exemptions.
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BOI Report Preparation and Filing
We assist eligible reporting entities with preparing and submitting required BOI reports through FinCEN’s official reporting system. Our work includes reviewing client-provided information, preparing the report, and assisting with submission and confirmation.
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Updates and Corrections
We help reporting entities evaluate whether changes in reportable information or previously submitted information require an updated or corrected BOI filing. When applicable, we assist with preparing and submitting the required report.
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Regulatory Guidance and Compliance Support
We provide guidance on current BOI reporting requirements and help businesses understand how regulatory changes may affect their obligations. Ongoing compliance support may be arranged under a separate professional engagement.
Who We Help
BOI reporting requirements now apply to a narrower group of entities than under the original Corporate Transparency Act rules.
We assist businesses that need to determine whether they have a reporting obligation or require help with an applicable filing.
An entity’s BOI reporting status generally depends on its formation, registration, and applicable exemptions rather than the industry in which it operates.
Foreign-Created Entities Registered in the U.S.
Businesses formed under foreign law and registered to conduct business in a U.S. state or tribal jurisdiction may be subject to BOI reporting, depending on available exemptions.
International Businesses Entering the U.S. Market
Foreign businesses establishing a registered presence in the United States may benefit from an assessment of their BOI obligations as part of their U.S. expansion planning.
Businesses Seeking Reporting Clarification
Companies uncertain about their formation status, registration requirements, or applicable exemptions can request an individualized reporting assessment.
Entities Requiring Updates or Corrections
Reporting entities that previously filed or have experienced relevant changes may need assistance evaluating updated or corrected reporting requirements.
Our Approach to BOI Reporting
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Initial Consultation
We discuss your entity’s background, formation, U.S. registration, and specific questions concerning BOI reporting.
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Entity and Exemption Review
We evaluate the entity’s reporting status under current FinCEN regulations and identify applicable exemptions.
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Information Collection
If reporting is required, we provide a list of the necessary information and review the information you submit through an appropriate secure process.
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Report Preparation and Submission
We prepare the required information, review the filing with you as appropriate, and assist with submission through FinCEN’s official reporting system.
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Confirmation and Follow-Up
We provide the available filing confirmation and explain relevant subsequent reporting obligations and potential future updates.
Industries we serve
Frequently asked questions
Are U.S.-created LLCs and corporations required to file BOI reports?
No. Under FinCEN’s current BOI reporting regulations, entities created under U.S. law, including domestic LLCs and corporations, are exempt from federal BOI reporting requirements.
This exemption applies regardless of whether the domestic entity has foreign owners.
Which foreign entities may still be required to report beneficial ownership information?
Certain entities formed under foreign law and registered to conduct business in a U.S. state or tribal jurisdiction through a filing with the appropriate authority may still be required to report.
An entity may qualify for an applicable exemption, so reporting status should be evaluated individually.
Under current rules, reporting companies generally do not need to report BOI concerning U.S. persons.
When must a reporting entity file or update its BOI information?
Applicable filing deadlines depend on the entity’s registration date and circumstances.
For newly registered foreign reporting companies, an initial report is generally due within 30 calendar days after receiving notice that the U.S. registration is effective.
Updates or corrections may also be required when applicable reportable information changes or errors are identified.
We can help determine the applicable filing requirements and deadlines.
Also in Tax
Need Help Determining Your BOI Reporting Obligations?
Whether you are registering a foreign-created entity in the United States or need clarity regarding an existing business’s filing status, The Accounting Firm LLC can help. Contact our firm to discuss your circumstances and determine the appropriate next steps.