A "foreign reporting company" is defined as any entity formed under the laws of a foreign country that has registered to do business in the United States by filing a document with a secretary of state or any similar office under the law of a State or Indian tribe.
Do any of the following commonly exempt categories apply to your entity?
You must file.
| Date of US Registration | Filing Deadline | Notes |
|---|---|---|
| Registered before Jan 1, 2024 | Jan 1, 2025 | Hard deadline for existing entities. |
| Registered in 2024 | 90 calendar days | From registration date. |
| Registered in 2025 | 30 calendar days | Shortened window. Fast turnaround required. |
The stakes for compliance are higher than ever. To account for inflation, the civil penalty for willful violations has increased.
⚠️ Civil Penalties: Up to $591 per day
Each day the violation continues, you can be fined up to $591. Criminal penalties can include up to two years imprisonment and fines up to $10,000.
Confirm if your foreign entity is registered to do business in any U.S. state by having filed a document with a secretary of state. Check if any of the 23 exemptions apply.
Collect full legal names, birth dates, residential addresses, and clear images of non-expired accepted identification (like a foreign passport or US driver's license) for all beneficial owners and company applicants.
Go to the official FinCEN BOSS E-Filing portal. Enter all the required company and owner information accurately, attach your ID documents, and submit your report before your 30-day deadline expires.
A foreign reporting company is any entity (such as a corporation or LLC) formed under the laws of a foreign country that has registered to do business in any U.S. state or tribal jurisdiction, by the filing of a document with a secretary of state or any similar office.
Generally, no extensions are available for BOI filing. New entities created or registered in 2025 must file within 30 days of receiving notice that their creation or registration is effective.
To qualify for the inactive entity exemption, the entity must have been in existence on or before January 1, 2020, not engaged in active business, not owned by a foreign person, have not had a change in ownership, and not sent/received funds over $1,000 in the past 12 months. Most active or recently inactive entities must still file.
The company must report its legal name, trade names, principal US address, jurisdiction of formation/registration, and TIN. For each beneficial owner and company applicant, it must report their name, DOB, residential address, and an identifying number from an acceptable ID document (along with an image of the document).