BOI stands for “Beneficial Ownership Information Reporting form”.
Starting January 1, 2024, many U.S. businesses must submit a BOI report to the Financial Crimes Enforcement Network (FinCEN). This report gathers information about the company, its beneficial owners, and company applicants.
Companies formed in 2024, have 90 days after the registration to complete the report and companies formed before this date have until January 2025.
But don’t worry, we got you covered In Globalfy. For customers who have one of our new plans (Starter, Essential, Scale), the BOI is included, and we will take care of it after the formation process of your company!
For customers who don’t have a current plan in Globalfy, we will be sending notifications regarding this obligation with the hiring information and the total price for us to take care of it.
Important: There is a fine of $500 per day for not completing the BOI after the deadline, so we recommend completing it as soon as possible to avoid this situation.
If you still have any questions or need further assistance regarding this topic, we are available to assist you. Simply click here to submit your support request and our team will assist you. What is the BOI Report?