The Deadline of Beneficial Ownership Information Report
Beneficial ownership information report (BOIR) is not an annual requirement.
Each reporting company only needs to submit its initial BOIR once, unless the filer needs to update or correct information. The deadline depends on the company registered date in the United States as following:
1. A reporting company registered before January 1, 2024 must file by January 13, 2025.
2. A reporting company registered on or after January 1, 2024 and before January 1, 2025 must file within 90 days after receiving notice that its registration is effective.
3. A reporting company registered after January 1, 2025 must file within 30 days after receiving notice that its registration is effective.
After filing, if there is any changed information or inaccuracy in a BOIR, the reporting company must file an updated or corrected BOIR within 30 days after the date on which the change occurred or became aware of the inaccuracy.
USCPA Sophie Luo (羅霞) reminds you that failure to report BOI, or the willful provision of false or fraudulent BOI may result in a civil or criminal penalties, including civil penalties up to $500 for each day that the violation continues, or criminal penalties including imprisonment up to two years or a fine of up to $10,000.
Read more: What is Beneficial Ownership Information (BOI) Report?
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