What is the Beneficial Ownership Information Report?
74 views | Last modified 3/13/2024 9:19:08 AM EST | Added by TaxBandits Team

  • The Beneficial Ownership Information (BOI) report is a component of the Corporate Transparency Act, passed by Congress in 2021, and sets forth standard reporting guidelines for companies. 
  • The Corporate Transparency Act mandates most small businesses in the U.S. to complete BOI reporting in an attempt to combat money laundering, terrorism financing, tax evasion, and other criminal activities. 
  • This report will include personally identifiable information about a company's beneficial owners. 

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