What is BOI?
The Beneficial Ownership Information (BOI) requirement stems from the Corporate Transparency Act, which mandates businesses to disclose their beneficial ownership details to enhance transparency and prevent illicit financial activities. Businesses formed before January 1, 2024, have until the end of the year to file their BOI. New businesses must file within 90 calendar days of their creation through the Secretary of State or a similar office. For more detailed information, please visit fincen.org/boi.
BOI Filing Service
We offer comprehensive assistance in filing your BOI at a cost of $200, covering the first beneficial owner, with an additional $50 for each extra owner. Should you own multiple businesses, a separate BOI must be filed for each, incurring individual charges. To ensure timely filing, documents must be submitted to us by December 15, 2024. Late submissions will incur a rush fee. Reach out to us to begin the process.
Submitting your Information to us
To start the BOI filing process, you will need to provide specific documents through your Canopy portal. Before submitting any documents, please contact us to initiate the process with an engagement agreement and payment.
- Full Legal Name of Owners (contact us if you need more information about what classifies as a beneficial owner)
- Date(s) of Birth
- Residential Street Address(es)
- A unique identifying number for each owner and the issuing jurisdiction from one of the following documents:
- A non-expired U.S. passport
- A non-expired identification document issued by a State or local government
- A non-expired State driver’s license; or
- A non-expired passport issued by a foreign government, if the individual does not possess any of the other permissible documents
- An image of the document from which the unique identifying number was obtained
Is Your Business Inactive?
Inactive companies are exempt from BOI reporting if they meet the following requirements:
- Must have been in existence on or before January 1, 2020.
- Is not engaged in an active business.
- Is not owned by a foreign person.
- Has not experienced a change in ownership in the preceding 12-month period.
- Has not sent or received funds in an amount greater than $1,000 in the preceding 12-month period.
- Does not hold any type of assets, domestic or foreign.
LLC Dissolution
If you prefer not to file your BOI, we also offer LLC dissolution services. This can be a viable option for businesses opting to cease operations rather than comply with filing requirements. The fee for this service is currently TBD. For more information, please contact us by clicking the button below.