BOI Filing Deadline: March 21, 2025

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Why BOI Reporting Matters

If you own a small business, there’s a crucial deadline coming up—March 21, 2025. That’s the due date for filing your Beneficial Ownership Information (BOI) Report, required under the Corporate Transparency Act (CTA). The goal? To prevent fraud and make business ownership more transparent.

The U.S. Financial Crimes Enforcement Network (FinCEN) has made it clear: most small businesses must file. If you miss the deadline, the penalties can be steep. Let’s break it down in simple terms so you know exactly what to do.

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Who Needs to File?

Most U.S. businesses must file, including:

LLCs, corporations, and similar entities

Businesses registered with a state or tribal government

However, some businesses are exempt, such as:

• Large operating companies (20+ full-time employees & $5M+ in revenue)
• Banks, credit unions, and investment companies
• Nonprofits and tax-exempt organizations
• Sole proprietors (if not registered as an LLC or corporation)

If you’re unsure whether you need to file, check the FinCEN exemption list.

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What Information Do You Need to Report?

For each beneficial owner—someone who owns at least 25% of the business or has major decision-making power—you must provide:

✔ Full legal name

✔ Date of birth

✔ Residential address (not a business address)

✔ A valid ID number (like a driver’s license or passport) plus a scanned copy

If your business was formed after January 1, 2024, you’ll also need details about the person who registered the company (the “company applicant”).

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Key BOI Filing Deadlines

Businesses formed before January 1, 2024 → File by March 21, 2025

Businesses formed between January 1, 2024 – March 20, 2025 → You have 90 days from formation

Businesses formed on or after March 21, 2025 → You have 30 days from registration

Ownership changes? → You must update your BOI report within 30 days

Missing these deadlines could mean fines of up to $500 per day—so don’t wait until the last minute!

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How to File Your BOI Report

Filing is free and done online. Here’s how:

1. Visit the FinCEN BOI filing portal: https://www.fincen.gov/boi

2. Gather all required details about your business owners.

3. Fill out the online form and submit it.

Save your confirmation for your records.

Need more guidance? FinCEN offers a helpful Small Entity Compliance Guide.

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What Happens If You Don’t File?

Penalties for not filing include:

• Fines of up to $500 per day for non-compliance
• Criminal penalties (fines up to $10,000 & possible jail time)
• Business delays, since banks and vendors may require proof of compliance

Filing is quick, free, and could save you a major headache down the road!

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BOI Filing Tips for Small Business Owners

Check if you’re exempt before filing.

Gather all necessary details beforehand to avoid delays.

Store a copy of your submission confirmation.

Update your BOI report within 30 days if anything changes.

Work with an accountant if you need extra guidance.

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Stay Compliant with Perlinger Consulting

The BOI rule is a one-time filing for most businesses. Meeting your deadline ensures smooth operations and avoids penalties.

Have questions? Need help filing? Perlinger Consulting makes compliance easy. We specialize in bookkeeping, business filings, and accounting support so you can stay focused on growing your business.

📞 Call us at 720-290-4389 or visit https://perlingerconsulting.com for expert small business assistance.

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Additional Resources

• BOI Reporting Portal → https://www.fincen.gov/boi

Don’t wait—file your BOI report now and stay compliant!

This article is intended for informational purposes only and should not be considered legal, tax, or financial advice. Regulations may change, and it’s essential to consult with a qualified attorney or financial professional regarding your specific situation. Perlinger Consulting is not responsible for any actions taken based on this content. For the latest official guidance, please refer to the FinCEN website or consult a professional.

Perlinger Consulting is not responsible for the content, accuracy, or reliability of any third-party websites linked from our site. Accessing these links is at your own risk, and we assume no liability for any damages or losses arising from your use of such third-party resources.

Don’t wait—file your BOI report now and stay compliant!