New Federal Filing Requirement 2024: Understanding BOI Reporting for Small Business Owners

Thursday, 18 April 2024, 09:30

Learn about the new federal filing requirement for LLC owners in 2024, known as BOI Reporting. Discover the importance of complying with this rule to fight financial crime and how easy it is to protect your business in just five minutes. Don't miss the deadline and ensure your business is compliant with the new BOI Reporting regulations.
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New Federal Filing Requirement 2024: Understanding BOI Reporting for Small Business Owners

What is the BOI Reporting requirement?

BOI Reporting is a result of the Corporate Transparency Act.

How to file BOI Reporting

It only took me five minutes to fill out the BOI forms for my small business.

  • Go to the Financial Crimes Enforcement Network (FinCEN) website.
  • Read the BOI Reporting FAQs.
  • Use the BOI E-Filing System to file your BOI Report.
  • If you own an LLC, you'll need information such as company name, tax identification number, address, beneficial owner's details, and an identifying document.

What are BOI Reporting deadlines?

Your BOI Reporting deadline depends on when your business entity was formed.

  • If your business was formed before Jan. 1, 2024, your deadline is Jan. 1, 2025.
  • If you start a new business in 2024, your deadline is within 90 days after registration.
  • New businesses formed in 2025 have 30 days to comply.

File your BOI Report in 2024 to avoid penalties and ensure compliance with the new federal requirement.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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