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Is there a Fee to File the BOI?

Published in BOI Filing Cost 2 mins read

No, there is no fee to file the Beneficial Ownership Information (BOI) report directly with the Financial Crimes Enforcement Network (FinCEN).

When filing your BOI report, it is crucial to understand that direct submissions to FinCEN are always free of charge. This is an important detail, as various entities or scams may attempt to charge a fee for this mandatory filing.

Understanding BOI Filing Costs

The BOI filing process is designed to be accessible and cost-free for reporting companies.

  • Direct Filing with FinCEN: The U.S. Department of the Treasury's FinCEN provides the official platform for submitting BOI reports, and this service is offered at no cost to the filer.
  • Avoiding Scams: Be wary of solicitations that demand payment for BOI filing assistance or imply that a fee is required to complete the filing. These can often be fraudulent attempts to collect money or personal information. Always verify the authenticity of any communication related to your BOI obligations.

Practical Insights for Filing

To ensure a smooth and secure filing process without incurring unnecessary costs:

  • File Directly: Utilize the official FinCEN filing system for your BOI report. You can access the system through FinCEN's website.
  • Verify Senders: Before sending any personal information or money, especially if prompted by unsolicited emails or mail, check directly with FinCEN or your state's Secretary of State's office to confirm the legitimacy of the request.
  • Understand Requirements: Familiarize yourself with the BOI reporting requirements to avoid falling prey to scams that might misrepresent the process or fees. FinCEN provides comprehensive guidance and resources on its website.

By following these guidelines, reporting companies can fulfill their BOI obligations accurately and without financial burden.