FinCEN BOI Exemption & Deadline Checker
Determine whether your business is required to file a Beneficial Ownership Information report under the Corporate Transparency Act.
FinCEN Beneficial Ownership (BOI) Exemption & Deadline Checker
Check Corporate Transparency Act (CTA) compliance requirements, statutory 23-exemption rules, and filing deadlines.
No formal filing with a Secretary of State.
Bank, credit union, SEC broker, public charity.
Filing Deadline: January 1, 2025.
Understanding the Corporate Transparency Act Mandate
Enacted by Congress to curb illicit finance and shell companies, the Corporate Transparency Act impacts over 32 million American small businesses. Unless an entity meets one of 23 specific statutory exemptions, reporting is mandatory.
Key Features
Statutory 23-Exemption Engine
Evaluates Large Operating Company (20+ FTE + $5M revenue) and regulated entity carve-outs.
Formation Window Deadlines
Models 90-day (2024 formations) and 30-day (2025+ formations) statutory filing deadlines.
Common Use Cases
- ✓LLC & Small Business Owners
Verify compliance mandates before incurring $591/day statutory civil fines.
- ✓Corporate Attorneys & CPAs
Audit client entity portfolios to ensure beneficial owner records are submitted.
Frequently Asked Questions
What is FinCEN BOI reporting?
Under the federal Corporate Transparency Act (CTA), most US corporations, LLCs, and entities created by a state filing must file a Beneficial Ownership Information (BOI) report with FinCEN identifying individuals who own at least 25% or exercise substantial control.
What are the penalties for not filing a BOI report?
Willful failure to file can result in civil penalties of up to $591 per day, as well as criminal fines of up to $10,000 and up to two years in federal prison.
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