BOIR Filings by the Arizona Attorney Office of Fishbein Law Group. We will file your Beneficial Ownership Information Report Quickly & Securely (BOI Reports).
Fishbein Law Group offers BOIR Filings for business entities quickly, securely, and correctly. We submit your BOI Reports filing to FinCen on your behalf and will provide you with the required confirmation letter once your BOIR filing has been completed and accepted. We support businesses throughout Arizona and California, including Phoenix, Tucson, and San Diego.
Fines for BOIR Filings Non-Compliance can cost companies up to $591 a day (max $10,000)!
Don’t Delay, File Today!
The submission of this form is to request to schedule a phone consultation and does not create an attorney-client relationship. An attorney-client relationship is only established once a written engagement agreement has been signed by both you and Fishbein Law Group, PLLC. The information provided in this form will be used solely for the purposes of scheduling a consultation and assessing your needs.
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What is the Beneficial Ownership Information Report (BOI Reports)?
The BOIR Filings requirements are part of the Corporate Transparency Act (CTA) of 2021, and company information is submitted to the Financial Crimes Enforcement Network (FinCEN). The FinCEN was created to increase transparency in business ownership and help combat financial crimes.
Congress passed these laws in 2021, effective on January 1, 2024. Companies must now submit their BOIR, which requests details about the owners and specific operational information about the business. This information needs to be filed accurately and completely. Fines for non-compliance can now cost companies up to $591 daily (up to $10,000).
Essential Parts About the BOIR Filing:
- This applies to most U.S. businesses
- Deadline for filing is January 1st, 2025
- Required by the Financial Crimes Enforcement Network (FinCEN)
- Failure to file can result in penalties of up to $591 per day (up to $10,000 in total)
Requirements and Guidelines of the BOIR:
The number of guidelines, information, and changing criteria for filing a BOI Report is immense. This spiderweb of details can be found on the Crimes Enforcement Network (FinCEN) website. To help navigate your BOI Filing, contact your CPA or Business Estate Attorney. Fishbein Law Group specializes in filing BOIRs accurately and quickly while providing the filing company with FinCEN acceptance documentation. Call us at (520) 797-1400.
The Purpose behind the Beneficial Ownership Information Report (BOIR)
The purpose of the Beneficial Ownership Information Report (BOIR) was for the U.S. Department of the Treasury to increase companies’ visibility and tracking. Under the CTA, this federal reporting program will help deter the opportunity for illegal activities like money laundering and terrorist funding activity while improving corporate accountability and assisting law enforcement investigations. Those organizations required to file a BOIR include small and large companies, such as LLCs, S-Corps, and C-Corps.
BOI Reports are filed electronically to the Financial Crimes Enforcement Network (FinCEN) in the interest of national security. Failure to file could result in criminal and civil penalties and fines. As such, any BOIR Filings should be completed and submitted with the utmost care, accuracy, and timeliness.
Deadline for BOI Reports Filing
Generally, a company established before January 1, 2024, is required to submit its initial BOI reports by January 1, 2025. For companies formed in 2024, the report must be filed within 90 days of creation. Starting in 2025, newly formed companies must submit the report within 30 days. Additionally, any updates to the information regarding the company or its beneficial owners must be reported within 30 days of the change.
Who needs to File a BOI Report?
As stated in the Federal Corporate Transparency Act (CTA), specific entities, including corporations, S-Corps, and LLCs, are required to file a Beneficial Ownership Information Report (BOIR) with the Financial Crimes Enforcement Network, or FinCEN, a bureau within the Department of Treasury. Failure to file could result in significant civil and criminal penalties.
Who is required to file a BOI report?
Unless an entity qualifies for a CTA exemption, all LLCs, S-Coprs, Corporations, and any other entity created through a secretary of state document must file a BOI report.
Who classifies as a Beneficial Owner?
A Beneficial Owner is an individual who owns or controls at least 25 percent of the company or entity’s ownership interests or directly or indirectly manages significant control over it.
How do I know if I need to File a BOI Report?
The FenCEN guidelines and exceptions are vast and complicated. If you are unsure if you need to file a BOI Report, contact the office of Fishbein Law Group. We will help verify that information and complete your filing upon your request. The fees for our BOI Report Filings are completed quickly and accurately and at a reasonable fee.
Who can file my BOI Reports?
Your BOI report can be filed by a CPA, Business Expert, or Attorney who is highly knowledgeable about the BOIR program. Self-filers can complete the submission by clicking on the FinCEN Website. Whoever files your BOIR, ensure the submission is fully and accurately completed.
If you need assistance filing your BOIR, contact Fishbein Law Group at (520) 797-1400. As a law firm, rest assured that your filing will be completed quickly with the utmost care and accuracy. We will also provide you with your FinCEN acceptance report and any other filing documentation for your records. Failure to file can result in thousands of dollars in fees / fines, so complete your filing ASAP.
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The Expertise of Fishbein Law Group Services
The team’s comprehensive and solid understanding of current Federal and State programs, including the CTA’s BOI Report requirements, along with estate documents such as living trusts, wills, and medical powers of attorney, is in line with current Arizona estate laws. The firm assist individuals, families, and businesses in effectively managing their assets. Given persistent medical challenges, having a well-drafted Medical Power of Attorney and a detailed estate plan is critical. Fishbein Law Group specializes in drafting these documents and providing support during important family moments.
Furthermore, our Business Formation and Estate Planning Law Office offers well-rounded business and tax strategies for forming limited liability companies (LLCs) under Arizona’s New LLC Act. LLCs are ideal for businesses, offering liability protection and tax advantages. With extensive knowledge of asset protection, FLG provides effective and affordable plans for business and asset safeguarding.
To learn more, visit the Contact Page or call (520) 797-1400 for a free consultation and education.
Experienced Estate Attorney
As an experienced asset protection services provider, our law firm offers exceptional and comprehensive estate planning solutions to our clients.
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Each client’s financial situation and goals are unique. As such, our estate planning law firm carefully listens to our clients’ needs and formulates sensible plans accordingly.
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Family emergencies can occur at anytime. To provide additional value to our clients, FLG offers our 24/7 Emergency Telephone Hotline Program and its benefits afforded to you and your family members during times of crisis. As a Fishbein Law Group client, this extremely important program is offered to you at no charge.
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Experts in BOIR Filing, Business Formation, Estate Planning, and Asset Protection
When considering estate planning, you’ll need services that include drafting wills, setting up trusts, planning for estate taxes, and creating powers of attorney and healthcare directives. These services ensure your assets are distributed according to your wishes, minimize tax liabilities and probate, and provide for your family’s future security.
