A reporting company will have to report:

Its legal name;

Any trade names, “doing business as” (d/b/a), or “trading as” (t/a) names;

The current street address of its principal place of business if that address is in the United States (for example, a U.S. reporting company’s headquarters), or, for reporting companies whose principal place of business is outside the United States, the current address from which the company conducts business in the United States (for example, a foreign reporting company’s U.S. headquarters);

Its jurisdiction of formation or registration; and

Its Taxpayer Identification Number (or, if a foreign reporting company has not been issued a TIN, a tax identification number issued by a foreign jurisdiction and the name of the jurisdiction).

A reporting company will also have to indicate whether it is filing an initial report, or a correction or an update of a prior report.

The only acceptable forms of identification are: 

1. 1.  A non-expired U.S. driver’s license (including any driver’s licenses issued by a commonwealth, territory, or possession of the United States);
2. 2.  A non-expired identification document issued by a U.S. state or local government, or Indian Tribe;
3. 3.  A non-expired passport issued by the U.S. government; or
4. 4.  A non-expired passport issued by a foreign government (only when an individual does not have one of the other three forms of identification listed above).

No. There is no annual reporting requirement. Reporting companies must file an initial BOI report and updated or corrected BOI reports as needed.

No, though if a special reporting rule applies, the reporting company may report a parent company’s name instead of beneficial ownership information.

A reporting company usually must report information about itself, its beneficial owners, and, for reporting companies created or registered on or after January 1, 2024, its company applicants.

However, under a special reporting rule, a reporting company may report a parent company’s name in lieu of information about its beneficial owners if its beneficial owners only hold their ownership interest in the reporting company through the parent company and the parent company is an exempt entity.

For each individual who is a beneficial owner, a reporting company will have to provide:

The individual’s name;

Date of birth;

Residential address; and

An identifying number from an acceptable identification document such as a passport or U.S. driver’s license, and the name of the issuing state or jurisdiction of identification document.

The reporting company will also have to report an image of the identification document used to obtain the identifying number.

For each individual who is a company applicant, a reporting company will have to provide:

The individual’s name;

Date of birth;

Address; and

An identifying number from an acceptable identification document such as a passport or U.S. driver’s license, and the name of the issuing state or jurisdiction of identification document.

The reporting company will also have to report an image of the identification document used to obtain the identifying number.

If the company applicant works in corporate formation - for example, as an attorney or corporate formation agent - then the reporting company must report the company applicant’s business address. Otherwise, the reporting company must report the company applicant’s residential address.

No. The reporting company address must be a U.S. street address and cannot be a P.O. box.

No. Reporting companies must report beneficial ownership information directly to FinCEN.

Congress enacted a law, the Corporate Transparency Act, that requires the reporting of beneficial ownership information directly to FinCEN.

State or local governments, financial institutions, and other federal agencies, such as the IRS, may separately require entities to report certain beneficial ownership information.

However, by law, those requirements are not a substitute for reporting beneficial ownership information to FinCEN.