Introduction
With the enforcement of the Corporate Transparency Act (CTA), many U.S. business owners are now required to file a BOI (Beneficial Ownership Information) Report with FinCEN. The most common question being asked is: When is the BOI filing deadline?
Failing to file on time can lead to serious legal and financial consequences. Here’s everything you need to know about BOI deadlines for new and existing companies.
What Is BOI Filing?
BOI filing is the process of reporting the personal information of a company’s beneficial owners to the Financial Crimes Enforcement Network (FinCEN). This is part of a broader effort to fight money laundering, tax evasion, and fraud.
BOI Filing Deadlines by Formation Date
The deadline for your BOI report depends on when your company was formed:
Formed Before January 1, 2024
Deadline: January 1, 2025
You have one year to file your initial BOI report.
Formed Between January 1, 2024 – December 31, 2024
Deadline: 90 days from the date you receive state confirmation of your company’s creation or registration.
Formed On or After January 1, 2025
Deadline: 30 days from the date you receive formation confirmation.
What Happens If You Miss the BOI Deadline?
Missing the deadline can result in:
- Civil penalties up to $500 per day
- Criminal charges including fines and imprisonment
This makes it critical to file your BOI report on time.
Who Needs to File?
Most LLCs, corporations, and other small entities registered with a U.S. state must file a BOI report—unless they qualify for an exemption under FinCEN’s rules.
Final Thoughts
So, when is the BOI filing deadline?
- Existing companies: File by January 1, 2025
- New companies in 2024: File within 90 days
- New companies in 2025 and beyond: File within 30 days
Avoid penalties by staying ahead of deadlines. Need help with BOI compliance? Visit FormLLC.us to get expert filing support.
