Beneficial Ownership Information, also called BOI, is information about the real people who own or control a business. It was created to help the U.S. government identify the people behind certain companies.
However, BOI reporting rules changed. If your LLC was formed in the United States, you generally do not need to file a BOI report in 2026.
This includes LLCs formed in states such as Delaware, Wyoming, Florida, Texas, California, New York, or any other U.S. state or territory.
BOI reporting may still apply if your LLC was formed outside the United States and later registered to do business in a U.S. state.
For example, if you formed an LLC in India, the United Kingdom, Canada, Singapore, or another country and registered it as a foreign LLC in the United States, you may need to file a BOI report.
This guide explains who needs to file, what information is required, and how to complete the BOI filing process.
Quick Answer: Do You Need to File BOI for Your LLC?
You usually do not need to file a BOI report if your LLC was created in the United States.
You may need to file if all of the following apply:
- Your LLC was formed under the laws of another country
- Your LLC registered to do business in a U.S. state or territory
- Your company does not qualify for a BOI reporting exemption
- One or more non-U.S. persons own or control the company
If you formed your LLC in the United States, you do not need to file an initial BOI report, update a past BOI report, or submit a correction for a past BOI report.
What Is Beneficial Ownership Information?
Beneficial Ownership Information means information about the individuals who ultimately own, control, or make major decisions for a company.
A beneficial owner is usually a person who:
- Owns or controls at least 25% of the company
- Has major decision-making authority
- Has the power to appoint or remove key officers
- Controls important business, financial, or ownership decisions
- Serves as a senior officer, such as a CEO, president, CFO, or COO
A person can be a beneficial owner even if they do not own 25% of the company. For example, a manager who has strong control over important business decisions may still be treated as a beneficial owner.
BOI reporting focuses on real people, not just the names of companies or trusts. If another company owns your LLC, you may still need to identify the individuals who ultimately own or control that other company.
Which LLCs Need to File a BOI Report?
The biggest question is whether your LLC was created in the United States or outside the United States.
LLCs Formed in the United States
If your LLC was formed by filing documents with a U.S. Secretary of State or similar government office, you do not need to file BOI.
For example, you do not need to file a BOI report if you formed:
- A Delaware LLC
- A Wyoming LLC
- A Florida LLC
- A Texas LLC
- A California LLC
- A New York LLC
- A U.S. LLC owned by a non-U.S. resident
- A single-member LLC created in the United States
- A multi-member LLC created in the United States
Your citizenship or country of residence does not change this rule. A non-U.S. resident who forms an LLC in Delaware or Wyoming is still forming a U.S. LLC. That LLC does not need to file a BOI report.
Foreign LLCs Registered in the United States
BOI filing may apply to an LLC that was formed in another country and later registered to do business in the United States.
For example, suppose a company was formed in India and then files paperwork to register in Texas, Florida, or Delaware as a foreign LLC. That company may need to file BOI information if it does not qualify for an exemption.
A foreign LLC usually needs to file only once, even if it later registers to do business in more than one U.S. state.
When Does a Foreign LLC Need to File BOI?
A foreign LLC that registered to do business in the United States before March 26, 2025, had a BOI filing deadline of April 25, 2025.
A foreign LLC that registers to do business in the United States on or after March 26, 2025, generally has 30 calendar days to submit its initial BOI report.
The deadline starts from the earlier of these two dates:
- The date the company receives notice that its registration is approved
- The date the state first makes the registration public
Do not wait until your business starts making money. The filing deadline is based on the company’s registration date, not its first sale, first customer, or first tax filing.
If you missed a filing deadline, do not ignore it. Review your company’s status and submit the report as soon as possible if you are required to file. In a more complicated case, speak with a qualified attorney or compliance professional.
Information You Need Before Filing
It is best to collect all information before opening the BOI filing system. This makes the process easier and helps reduce mistakes.
For the company itself, you may need:
- Legal LLC name
- Any trade name or DBA name
- U.S. business address
- Country where the LLC was formed
- First U.S. state or territory where the LLC registered
- IRS EIN or other taxpayer identification number
- Foreign tax number, if the company does not have a U.S. tax number
You may also need details about each reportable non-U.S. beneficial owner.
For every person you need to report, collect:
- Full legal name
- Date of birth
- Residential address
- Citizenship information
- Identification document number
- Country or authority that issued the identification document
- A clear image of the identification document
The identification document may be a passport, driver’s license, state identification card, or another accepted government-issued identification document.
Make sure the name on the BOI filing matches the person’s current legal name. A small spelling error, wrong birth date, or outdated address can create problems later.
Who Should Be Listed as a Beneficial Owner?
A beneficial owner is generally a person who owns at least 25% of the LLC or exercises substantial control over it.
For a small LLC, the beneficial owners may include:
- The founder
- The main owner
- A business partner with 25% or more ownership
- A CEO or president
- A managing member with major control
- A person with authority to make major financial decisions
- A person who can appoint or remove managers or officers
A person does not need to own shares directly to be a beneficial owner. Ownership can be indirect.
For example, if Person A owns a company, and that company owns 50% of your LLC, Person A may be considered an indirect beneficial owner of your LLC.
You may need to look through several layers of ownership to identify the real people who ultimately control the company.
Do You Need to Report U.S. Owners?
Foreign LLCs that are required to submit BOI reports do not need to report U.S. persons as beneficial owners.
For example, imagine a foreign LLC registered in the United States has two owners:
- A U.S. citizen who owns 60%
- A non-U.S. citizen who owns 40%
The company may need to report the non-U.S. owner, but it would not report the U.S. owner.
This is an important difference under the current rules. Do not assume every owner needs to be listed. Review each owner’s citizenship and role before filing.
How to File Your BOI Report?
BOI reports are filed electronically through the official FinCEN BOI E-Filing system. There is no government filing fee for submitting the report directly.
You can file the report yourself, or you can ask an attorney, accountant, registered agent service, or business formation service to assist you.
Here is the general filing process.
Step 1: Confirm That Your LLC Must File
First, confirm that your LLC is a foreign entity registered to do business in the United States.
If your LLC was formed in the United States, stop here. You normally do not need to file BOI.
If your LLC was formed in another country and registered in a U.S. state, continue with the next steps.
Step 2: Check Whether an Exemption Applies
Some organizations may qualify for an exemption. Examples can include certain banks, insurance companies, tax-exempt entities, securities issuers, government authorities, and larger operating companies that meet specific requirements.
Do not assume your business is exempt because it has employees or earns revenue. Exemptions have detailed conditions. A foreign LLC should review the full requirements carefully before deciding not to file.
Step 3: Gather Company Information
Enter your company’s legal name exactly as it appears in its official registration documents.
Include any trade names, DBA names, or other names used by the business. Use a real street address rather than a P.O. box where required.
You will also provide the foreign country where the LLC was formed, the first U.S. state where it registered, and the company’s taxpayer identification number.
Step 4: Add Beneficial Owner Information
Next, provide the required information for each reportable non-U.S. beneficial owner.
Review both ownership and control. A person may need to be listed because they own at least 25% of the company, exercise substantial control, or both.
Use the person’s current residential address, not the company address. Carefully enter the document number and upload a readable image of the identification document.
Step 5: Review the Report Before Submission
Before submitting, check every detail carefully.
Confirm that:
- The LLC name is correct
- The address is current
- The EIN or tax number is correct
- Every required beneficial owner is included
- No U.S. person is incorrectly reported
- Dates of birth are correct
- Identification documents are valid and readable
- Names match legal documents
The information in the report should be accurate as of the date you file it.
Step 6: Submit and Save Your Confirmation
After submitting the report, save the confirmation receipt and any filing number provided by the system.
Keep this information with your LLC records. It may be useful if you need to update, correct, or prove that the report was filed.
Do not share your BOI confirmation with people who do not need it. BOI information includes sensitive personal details, so it should be handled carefully.
What Happens After Filing?
BOI reporting is not an annual filing requirement. You do not need to submit a new BOI report every year just because your LLC continues operating.
However, you may need to update the report if important information changes.
For example, you may need to update the filing if:
- The LLC changes its legal name
- The LLC gets a new DBA name
- A beneficial owner moves to a new residential address
- A beneficial owner changes their legal name
- A beneficial owner gets a new passport or identification document
- Ownership changes
- A new person gains substantial control
- An existing owner sells their ownership interest
- An error is discovered in the original filing
Updates are generally due within 30 calendar days after the change happens.
If you discover that the original report had incorrect information, submit a corrected report within 30 calendar days after you discover the mistake or reasonably should have discovered it.
Common BOI Filing Mistakes to Avoid
The most common mistake is filing BOI for a U.S.-formed LLC when no filing is required. Before paying a third-party service, confirm whether your LLC was actually formed outside the United States.
Other common mistakes include:
- Using a P.O. box instead of a proper street address
- Forgetting a DBA name
- Reporting outdated personal information
- Missing an owner with indirect ownership
- Forgetting a person with substantial control
- Reporting a U.S. person when it is not required
- Uploading an expired or unclear identification document
- Missing the 30-day update deadline
- Paying a suspicious company that sends an unsolicited BOI notice
Be careful with scam letters, emails, and messages that demand payment for BOI filing. The government does not charge a direct fee to file a BOI report.
Final Thoughts
BOI reporting rules are much simpler for most LLC owners in 2026. If your LLC was formed in the United States, you generally do not need to take any action.
The main group that may still need to file is foreign LLCs that registered to do business in a U.S. state or territory. If that applies to your company, collect the correct company and owner information, file within the required deadline, save your confirmation, and update the report when relevant details change.
Because BOI rules can be technical, it is wise to get professional help when ownership is complex, your company has multiple entities, or you are not sure whether an exemption applies.