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BOI Reporting for LLC Filing Benefits with Tax1099

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Information required to file the BOIR for LLCs

If the Beneficial Owner provides their FinCEN ID, adding any other information is not necessary. If not, the below information should be provided:

Reporting Company Information:

  • LLC Legal Name: The official name of your LLC as registered.
  • Trade Name: Any other name your LLC operates under.
  • Primary Business Address: The main address where your LLC conducts business.
  • Jurisdiction of Formation: The state or country where your LLC was formed.
  • Taxpayer Identification Number (TIN): The unique number assigned to your LLC for tax purposes.

Company Applicant Information:

  • (For LLCs Established on or After January 1, 2024):
  • Legal Name: Full name of the company applicant (individual who’ll be responsible for the filing).
  • Date of Birth: The date of birth of the company applicant.
  • Residential Address: The home address of the company applicant.
  • Unique Identifier: A unique identifier from a driver’s license, passport, or state ID, plus an image of the document displaying this identifier.

For Each Beneficial Owner:

  • Legal Name: Full name of the individual who is a beneficial owner.
  • Date of Birth: The date of birth of each beneficial owner.
  • Residential Address: The home address of each beneficial owner.
  • Unique Identifier: A unique identifier from a driver’s license, passport, or state ID, plus an image of the document displaying this identifier.

Step by Step Guide

How to E-File BOI For LLC 

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Tax1099 Ensures Seamless BOI Reporting for LLCs with Top-Notch CTA Compliance

  • Tax1099’s solution is designed for all entities that include business owners, legal and accounting professionals and small to medium-sized businesses.
  • Request for Free FinCEN ID and get it in no time at no cost while you can also update or correct previous BOI reports easily with Tax1099.
  • With Tax1099’s “Centralized Filing Management”, Store and access all prior filings anytime from anywhere.
  • Missing BOI filing deadlines can result in severe criminal and civil penalties. You can now avoid BOIR penalties with Tax1099 as we ensure your filings comply with CTA FinCEN regulations, ensuring a safe drift away from legal risks.

Frequently Asked Questions

Doubts? We have the Answers.

LLCs must file a Beneficial Ownership Information (BOI) report identifying individuals who own or control at least 25% of the company or exercise substantial control over it.

A beneficial owner is anyone who either exercises substantial control over the LLC or owns or controls at least 25% of its ownership interests.

LLCs that are classified as “reporting companies” under the Corporate Transparency Act (CTA) must report beneficial ownership information. This generally includes most domestic and foreign LLCs registered to do business in the U.S., unless they are exempt. Best BOI Filing Software tax1099 BOI simplifies the LLC BOI Filing.

Certain entities such as large operating companies, banks, and insurance companies are exempt from BOI reporting under the CTA.

Yes, some jurisdictions may exempt smaller LLCs from certain reporting requirements. The criteria often include the number of employees or annual revenue, but this varies by location.

Individuals who have no ownership stake or control over the LLC, such as employees or service providers without any ownership interest, are not considered beneficial owners.

An LLC usually has a company applicant, which refers to the person who files the formation documents and typically represents the LLC in official matters.