Get Answers Support BOIR Filing Beneficial Owners Do you need to submit an updated BOI report if the type of ownership interest of the beneficial owner changes? Last modified 4/16/2024 12:36:42 AM EST No, you don't. If there's a change in the type of ownership interest a beneficial owner has in a reporting company, like converting preferred shares to common stock, you're not required to file an updated BOI report. This is because FinCEN doesn't ask for details about the type of interest. Updated BOI reports are only necessary when there are changes to the information reported about the Was this helpful? Yes No Need more help? Get in touch with our dedicated support team Contact Us (704) 684-4751 support@taxbandits.com Sign Up for a FREE TaxBandits Account! The Smart CPA Choice Register Now Already have an account? Sign in