No, filing a BOI (Beneficial Ownership Information) report with FinCEN does not cost money if done directly through the official FinCEN system. The process is 100% free for all businesses filing on their own.
Why Is BOI Filing Required?
The Corporate Transparency Act (CTA) requires most small businesses—including LLCs and corporations—to file a BOI report to disclose who owns or controls the business. This increases transparency and helps fight financial crimes like fraud and money laundering.
When Is BOI Filing Due?
- Existing companies (formed before Jan 1, 2024): File by January 1, 2025
- New companies (formed on/after Jan 1, 2024): File within 90 days of formation
- Companies formed after Jan 1, 2025: File within 30 days
Are There Any Hidden Fees?
While FinCEN does not charge any fee, third-party services may offer to file your BOI report for a fee. These services can be helpful if you want professional guidance, but they are not mandatory.
Conclusion
Does filing a BOI cost money? Not if you file it yourself through FinCEN. Stay compliant and avoid scams by using the official government portal or trusted service providers like FormLLC.us if you prefer expert help.
