Truck Fleet Solutions
BOI Filing - Beneficial Ownership Information
ALERT from US Department of Treasury: [Updated March 26, 2025]: All entities created in the United States — including those previously known as “domestic reporting companies” — and their beneficial owners are now exempt from the requirement to report beneficial ownership information (BOI) to FinCEN. Existing foreign companies that must report their beneficial ownership information have at least an additional 30 days from March 26, 2025—until April 25, 2025, for most companies—to do so.
We want to keep you updated on an important change regarding the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). (Keep an eye on our site for any updates for the BOI filing).
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Who are Reporting Companies?
- Domestic Reporting Companies: Entities created in the United States, including corporations (S or C) and limited liability companies (LLCs).
- Foreign Reporting Companies: Entities registered to do business in the United States.
- Other Entities: Any other entity created by filing a document with a state or equivalent office. In the coming weeks, FinCEN will be exploring ways to adjust deadlines and streamline reporting for lower-risk businesses, including many small companies. However, for now, the March 21, 2025, deadline remains unchanged.
Who are Beneficial Owners?
- An individual who, directly or indirectly, either exercises substantial control over the reporting company, or owns or controls at least 25% of the ownership interests of the reporting company.
What Information Needs to be Reported?
- Legal name, date of birth, current street address, and a unique identifying number from an acceptable identification document (like a passport, driver's license, or state ID).
- An image of the identification document used to obtain the identifying number.
To avoid last-minute stress, we strongly encourage you to submit your BOI report as soon as possible.