Introduction
With the new Corporate Transparency Act (CTA) in effect, business owners are asking: How much is BOI filing? Whether you own an LLC, corporation, or other small entity, this post will clarify what you need to know about the cost and process of BOI (Beneficial Ownership Information) filing.
What Is BOI Filing?
BOI filing refers to reporting beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). It is mandatory for most U.S. small businesses starting January 1, 2024.
How Much Is BOI Filing?
BOI Filing Is Free
Filing your BOI report directly on the official FinCEN portal is 100% free of charge. There are no federal government fees associated with submitting this report.
File here: https://boiefiling.fincen.gov
Why You Might See BOI Filing Costs
Although the filing itself is free, some business owners choose to use third-party services (like accountants, law firms, or formation agents) to help them file accurately. These services may charge:
- $49 to $299+ depending on complexity
- Fees may include document prep, compliance review, and submission
Who Needs to File?
You must file if you’re:
- An LLC, corporation, or similar entity formed or registered in the U.S.
- Not exempt (e.g., large operating companies or banks)
Penalties for Not Filing
Ignoring BOI filing requirements can lead to:
- $500 per day civil fines
- Criminal charges, including possible jail time
Final Answer: How Much Is BOI Filing?
| Type | Cost |
|---|---|
| DIY through FinCEN | $0 |
| Using Filing Services | $49–$299+ |
| Penalty for Non-Filing | $500/day |
Conclusion
So, how much is BOI filing? It’s completely free if you file it yourself at the official FinCEN website. However, professional services may charge if you want expert help. The most important thing is to file on time to avoid costly penalties.
