What Is BOI Filing?
BOI filing, or Beneficial Ownership Information filing, is a new federal requirement introduced by the Corporate Transparency Act (CTA). It mandates that certain businesses disclose details about their beneficial owners to FinCEN (Financial Crimes Enforcement Network).
How Much Does BOI Filing Cost?
BOI Filing with FinCEN Is Free
There is no filing fee charged by FinCEN to submit your BOI report. Whether you’re a new entity or updating an existing report, the process does not require any government payment.
Why Do People Pay for BOI Filing Services?
While the filing itself is free, businesses may choose to use third-party services or compliance platforms for assistance. These services can range in price depending on the provider:
- DIY BOI filing via FinCEN: $0
- Filing through a service provider: $50 – $200+
(Includes compliance support, reminders, error-free submissions)
Is BOI Filing Required?
Yes, most LLCs, corporations, and similar entities must file unless they qualify for an exemption. Failing to comply may lead to civil penalties of $500/day and potential criminal charges.
Conclusion
How much does BOI filing cost?
If you do it yourself on the FinCEN portal, it’s absolutely free. However, using a trusted service like FormLLC.us can offer peace of mind and ensure your report is filed correctly and on time.
