Easily and Securely File Beneficial Ownership Information (BOI) Report Online for your Trucking Business
Effortlessly file your BOI report and stay compliant with the new FinCEN regulations using our sister product, TaxBandits.
Small businesses must submit a Beneficial Ownership Report to FinCEN before January 1, 2025.
E-file BOI Report Now
BOIR Mandate for Trucking Businesses
Starting January 1, 2024, the Corporate Transparency Act (CTA) requires most businesses in the U.S., including those in the trucking industry, to submit a Beneficial Owners Information Report (BOIR) to FinCEN.
This legislation aims to enhance financial transparency and combat money laundering and other financial crimes.
Click here to learn More about BOI Reporting Requirements.
BOIR Eligibility Checker
Find out whether your business needs to file a FINCEN Mandated BOI report.
Benefits of Filing BOI Reports Online for your Trucking Business with TaxBandits!
Meet your trucking business' FinCEN compliant with ease! Discover why filing BOI reports online with TaxBandits is the smart choice for
your business needs
Complete your BOI Report Filing in a few minutes!
Easily and securely file your BOI Report with TaxBandits in just a few minutes, with anytime access.
Supports various Reporting Types of BOI.
TaxBandits support all the BOI Reporting types such as Initial, Correction, update, & Newly Exempt Entity
Free BOI Corrections
Update or correct your BOI report for free within 7 days of submitting the initial report.
Real-Time Status Updates
After filing your BOI Report, our application will instantly share status updates as they are available.
Invite Beneficial Owners
Streamline your BOI reporting by inviting beneficial owners to complete their information via a secure URL. You can customize the completion page to match your brand's identity.
AI-Driven Data Extraction
Our advanced AI system automatically extracts data from your uploaded identification documents, eliminating the need for manual entry.
Engagement Letter
Easily customize engagement letters with your terms, auto-fill client details using dynamic tags, request e-signatures, and update the letter anytime, keeping it professional and personalized.
BOIR Protect
TaxBandits partners with Protection Plus to safeguard your BOI reporting by protecting you and your clients from FinCEN notices and inquiries.
Visit https://www.taxbandits.com/fincen-boi/efile-boi-report-online/ for more information about BOIR and the outstanding features
they offer
How do I file a BOI Report for your Trucking Business?
You can streamline your BOI e-filing process with FinCEN through our sister product, TaxBandits. Follow these simple steps for accurate BOIR reporting.
Choose Report Type & Enter the Reporting Company Details
Add Company Applicant & Beneficial Owner Details.
Review and Submit
to FinCEN.
What Information is Required to File a BOI Report with FinCEN?
The following details are needed to file your BOI Report Online with FinCEN:
- Reporting Type
- Reporting Company Details
- Company Applicant Details
- Beneficial Owner Details
Visit https://www.taxbandits.com/fincen-boi/boi-reporting-requirements/ for more information about BOI reporting requirements.
BOI Reporting Deadline
The deadline for filing your BOI report with FinCEN depends on when your company was created or registered.
Frequently Asked Questions on BOI Report
What is a BOI Report?
A BOI (Beneficial Ownership Information) Report is a document companies must submit to FinCEN (Financial Crimes Enforcement Network) to provide their Beneficial Ownership Information. This is required under the Corporate Transparency Act(CTA), which aims to identify the people who ultimately own or manage these firms. On January 1, 2024, FinCEN started to accept these BOI reports.
Who is required to File BOI?
A company must File a BOI report if it fulfills FinCEN's reporting company definition and does not qualify for an exemption. Need assistance in identifying whether your organization is a reporting company? The following factors are used to determine whether reporting companies are domestic or foreign:
- Domestic reporting companies are corporations, limited liability companies, and other entities formed by submitting a document with a secretary of state or comparable office in the United States.
- Foreign reporting companies are businesses (including corporations and limited liability companies) founded under the laws of a foreign nation and registered to do business in the United States by submitting a document with the secretary of state or a similar office.
There are 23 categories of entities that are exempt from boi reporting obligations.
Who is the “Beneficial Owner” of a reporting company?
A “beneficial owner” of a reporting firm must file a BOI report and is defined as any individual who, directly or indirectly:
- has substantial control over a reporting company (or)
- holds at least 25% of the company's ownership interests.
Who is the “Company Applicant” of a reporting company?
Reporting Companies founded on or after January 1, 2024, must report their company applicants. A company will have only up to two individuals who could qualify as company applicants:
- The individual who directly files the document that creates or registers the company; and
- If more than one person is involved in the filing, the individual is primarily responsible for directing or controlling the filing.
What are the penalties for violating BOI reporting requirements?
As per the Corporate Transparency Act(CTA), the penalties for violating the BOI reporting requirements will result in civil penalties of up to $591 each day and may include criminal penalties of up to two years imprisonment and a fine of up to $10,000. Potential violations include:
- Willfully failing to file a BOI report.
- Willfully filing false BOI.
- Willfully failing to correct or update previously reported beneficial ownership information.
Click here to learn more information about the BOI Penalties.
Are you ready to start your BOI Filing?
Helpful Resources For BOI Filing
BOI Reporting Requirements
Clear guidelines for submitting necessary Business Ownership Information
BOI Filing Instructions
Clear concise instructions to facilitate the seamless filing of Business Ownership Information.
BOI Report for LLC
A comprehensive guide outlining BOI explicitly tailored for Limited Liability Companies(LLC).