REMINDER | Beneficial Ownership Information Report
Submit by Jan 1st to avoid fees or disruptions.
Dear Fenton Village Business Community,
I trust this message finds you in good health. This is a friendly reminder that the deadline for eligible businesses to file their Beneficial Ownership Information (BOI) Report is approaching. As per regulatory requirements, the BOI report must be submitted by January 13th if your business was formed prior to 2024. For full details on deadlines and requirements, visit www.boiregistration.com.
Filing your BOI report is crucial to ensure compliance and to avoid any penalties or disruptions.
If you have already completed the submission, please disregard this message. If not, kindly ensure the filing is done on time. Attached is more information about how to process your BOI report.
Thank you for your prompt attention to this matter.
Best regards,
Daniel Moijueh
Executive Director
WHY IS A BENEFICIAL OWNERSHIP INFORMATION (BOI) REPORT IMPORTANT?
The BOl report is essential for transparency, regulatory compliance, and combatting financial crimes. It helps authorities identify beneficial owners, reduces risks like money laundering and tax evasion, and aligns with global standards. Filing ensures legal compliance, builds trust with stakeholders, and contributes to a secure and transparent financial system.
An Information (BOl) report is a document that discloses detailed information about the individuals who ultimately own, control, or benefit from a company or legal entity. These individuals are known as beneficial owners.
HOW TO FILE A BOI REPORT
For additional help, reference the www.boiregistration.com guidance page or the www.fincen.gov FAQ page.
STEP 1: DETERMINE FILING REQUIREMENT
Most corporations, LLs, and other legal entities must file unless exempt (e.g., publicly traded companies). Confirm if your entity is required to file a BOl report.
Step 2: GATHER REQUIRED INFORMATION
Prepare information about each beneficial owner including their full legal name, date of birth, residential or business address, identification numbers (e.g., social security number or passport), and information about their ownership percentage or level of control in the entity.
Step 3: LOG IN TO THE REPORTING PORTAL
Step 4: COMPLETE THE BOI REPORT FORM
Fill in the details for each beneficial owner and the entity itself.
Step 5: SUBMIT SUPPORTING DOCUMENTS
Attach any required documents (e.g., identification copies or entity registration papers) as specified.
STEP 6: PAY THE FILING FEE (IF APPLICABLE)
Some jurisdictions may require a small fee for
processing the report.
REVIEW AND SUBMIT. Save the confirmation number or receipt for your records as proof of submission.
Update the BOl report within 30 days if there are changes to beneficial ownership or the entity's information.
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