If you own a US LLC , or plan to form one, it’s essential to understand how to file a BOI report, what the current BOI reporting deadlines are, and why in 2026 many companies are already facing penalties without knowing they were required to report.
BOI reporting is part of a federal transparency framework designed to identify who actually owns or controls a company. For many LLC owners, especially foreign or Latino entrepreneurs, its impact is far greater than expected.
What Is the BOI Report and Why It Exists
The BOI report comes from the Corporate Transparency Act (CTA), a US federal law created to prevent money laundering, fraud, and the use of anonymous shell companies.
Under this law, certain companies must report their Beneficial Ownership Information (BOI) directly to Financial Crimes Enforcement Network, a bureau of the US Department of the Treasury.
The goal is simple: to identify the real people behind an LLC — even if they live outside the United States.
How to File a BOI Report: Required Information
Filing a BOI report means submitting accurate information about both the company and its beneficial owners.
Company information required
Legal name of the LLC
Principal business address
State or jurisdiction of formation
- Federal tax identification number (EIN or other accepted ID)
Who is considered a beneficial owner
A person is a beneficial owner if they:
Own 25% or more of the company, or
Exercise substantial control, even without ownership
Information required for each beneficial owner
Full legal name
Date of birth
Residential address
Government-issued ID (passport or similar)
This report is not filed with the IRS, your bank, or the state. It is filed directly with FinCEN through its official BOI filing system.
BOI Report for LLCs: Who Must File in 2026
The BOI report for LLCs has caused confusion because the rules have changed and continue to evolve.
During 2024 and 2025, many LLCs were required to file.
In 2026, compliance depends on analyzing the specific legal structure of each company.
LLCs commonly affected
Companies with international ownership or control
Foreign entities registered to do business in the US
LLCs used for investment, holding, or cross-border operations
Why many LLCs believe they’re exempt
The LLC has no activity
There is only one owner
The owner lives outside the US
No one informed them of the obligation
None of these factors alone removes the duty to review BOI compliance.
BOI Reporting Deadline: Why So Many Companies Miss It
In 2026, the biggest BOI compliance issue is not bad intent, it’s lack of awareness.
Common misconceptions include:
“My LLC is inactive”
“I already disclosed this to my bank”
“My registered agent never mentioned it”
BOI reporting does not rely on individual notices. The responsibility rests entirely with the company owner.
BOI Reporting Deadline in 2026
In 2026, there is no single universal BOI deadline. Instead, the reporting deadline depends on when a company is created, registered, or experiences a change in ownership.
Companies formed or registered in 2026 must file their BOI report within 30 calendar days of formation. Existing companies only need to update their report if ownership or control information changes, also within 30 days of the change.
Penalties for Missing the BOI Report Deadline
Failing to meet the BOI report deadline can result in:
Daily civil penalties exceeding USD 500 per day
Accumulated fines up to USD 10,000
Personal legal exposure in serious cases
Although enforcement has had adjustment periods, the risk is real. Especially when authorities determine there was avoidable negligence. Waiting without proper analysis can become costly.
What We Recommend Doing Now
Before assuming your LLC is exempt, it’s wise to:
Review your actual legal structure
Confirm whether BOI rules apply directly or indirectly
Stay ahead of regulatory changes
Properly document ownership and control
BOI compliance is not just a form. It reflects how the US evaluates corporate transparency.
How Loigica Can Help
At Loigica, we help Latino and international entrepreneurs:
Understand how to file a BOI report without legal jargon
Determine whether their LLC must comply
Meet BOI reporting deadlines correctly
Build clear, compliant, and sustainable legal structures
If you have questions about BOI reporting for your LLC, getting advice early can help you avoid penalties and long-term issues.