What is the BOI Form?
The BOI Form is a standardized document that companies must use to report their Beneficial Ownership Information (BOI) to regulatory bodies like the Financial Crimes Enforcement Network (FinCEN). This form ensures transparency by capturing crucial details about the individuals who directly or indirectly own or control the company, helping prevent financial crimes.
To ensure compliance and avoid penalties, it’s essential to accurately complete and submit the BOI Form through trusted services like FincenFetch, which specializes in simplifying the BOI filing process under the Corporate Transparency Act.
The BOI Form typically requires companies to disclose information such as:
- The name of each beneficial owner.
- Their address.
- Their date of birth.
- Their ownership percentage or level of control.
