What you get with a
Corporate Legal
BOI Report
Access to an attorney
to answer your BOI Report questions
Check-in emails throughout the year
so you don't end up with penalties of up to $10,000 for failing to update your BOI Report when something changes
2 free updates
when your information changes in the future, we'll be here to help you update your BOI report
Your initial filing
with an attorney reviewing everything before it's filed to help you catch costly mistakes
Step 1
Submit your information (and ask an attorney along the way if you have any questions).
Step 2
Sit back and let our attorney founder, Ashley, review everything and reach out if needed.
Step 3
Go back to doing what you do best, running your business and conquering the world. We'll send confirmation of your filing.
How it Works
Why use The Corporate Legal?
It is just as easy to file your own BOI report as it is to use an online service.
You still have to gather the information, and the report is filed via a free online portal that anyone can access - so you still submit that information into an online form.
Only The Corporate Legal provides attorney review, has a form drafted and annotated by a licensed attorney, and offers an attorney at your fingertips to answer your questions along the way.
This is a new federally mandated report under the Corporate Transparency Act, a new federal law enacted in 2021 as part of the National Defense Authorization Act. This act was passed to help combat financial crimes.
Any business registered to operate in the United States, with some exceptions. You can find those exceptions in this article all about the BOI.
January 1, 2024. Businesses will be able to start submitting their BOI reports as of January 1, 2024.
If you registered your business before January 1, 2024, you have 1 year to file your BOI report.
If you register a business on or after January 1, 2024, but before January 1, 205, you will have 90 days after registration to file your report.
If you register a business on or after January 1, 2025, you will have 30 days after registration to file your report.
$500/day up to $10,000. You may also face criminal charges with a penalty of up to 2 years in jail.
If a business fails to report, the business that failed to file and any beneficial owner involved in that business may be subject to separate penalties.
If a business files the report but leaves off a beneficial owner, the business and the beneficial owner who was left off the report may be separately penalized.
Information about your business
Business name, DBAs, state of registration, tax ID (like your EIN)
Information about "beneficial owners"
Name, date of birth, residential address, and government issued ID number (like your drivers license number) - you also have to upload a photo of the government-issued ID
Information about "company applicants" (only required for businesses that register on or after January 1, 2024)
Name, date of birth, residential address, and government issued ID number (like your drivers license number) - you also have to upload a photo of the government-issued ID
There are 2 categories of beneficial owners:
1. anyone who exerts substantial control over the company
2. anyone who owns or controls 25% or more ownership interest in the company
"Substantial Control" is interpreted very broadly. This includes C-Suite executives and presidents as well as anyone who can appoint those positions or control the direction of the business in key areas like the nature and scope of the business, the finances of the business, or the structure. The statute also includes a "catch all" definition that broadly says this is anyone who has any kind of substantial control over the business. Larger companies with complex corporate structures should consult an attorney.
This could be 1 or 2 people.
The "direct filer" is the person who physically entered your company registration information into a form and sent or submitted it to the state where you registered. This may be the only person you name.
On the other hand, you may also have to name "the person who directed the filing" if that's a different person. For example, if you use The Corporate Legal to register your LLC, the person who submits information to The Corporate Legal is "the person who directed the filing" and our attorney founder, who reviews and submits all LLCs, is the "direct filer."
Only businesses that register on or after January 1, 2024 have to file this information.
YES! If information in your report changes, you have 30 days to update your report or face the same penalties of $500/day up to $10,000 or criminal charges.
If you discover a mistake in your report, you have 30 days to update your report or face the same penalties of $500/day up to $10,000 or criminal charges.