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Beneficial Ownership Information Report – Plus Plan

$199.00 / year

What Is the Plus Plan?

The Plus Plan is designed for contractors who expect changes in their business that require updates to their Beneficial Ownership Information (BOI) Report. This plan includes two updates throughout the year, ensuring that your BOI report is promptly updated within the required 30-day window, keeping you compliant with FinCEN regulations.

How the Plus Plan Works

Purchase the Plan

Receive an email with instructions on how we’ll gather your information.

Submit Your Information

After gathering the necessary details from you, we conduct an audit on the information to ensure accuracy before preparing your report.

Review and Confirm

You’ll receive the audited report to carefully review and confirm. Once you’ve approved the report, we handle the final submission to FinCEN, ensuring everything is filed accurately and on time.

File Updates

Throughout the year, if any changes occur in your business, simply reach out to us within the 30-day window. We will gather the necessary information and ensure the updated report is filed promptly to keep you compliant.

Why Choose the Plus Plan?

The Plus Plan is designed for businesses that anticipate changes throughout the year. It provides ongoing support to ensure your BOI report remains accurate and compliant, giving you the flexibility to update your information as needed while staying on top of legal requirements.

Stay Compliant Year-Round

Ensure your BOI report stays up-to-date with any business changes, avoiding the risk of penalties for late filings.

Proactive Update Management

We handle your BOI updates throughout the year, making sure every change is filed accurately and on time.

Confident Compliance

Rest easy knowing that your BOI reports are handled meticulously. We provide comprehensive support, from gathering necessary details to confirming successful submission, guaranteeing peace of mind.

How to Stay Compliant Throughout the Year with the Plus Plan

Ensuring your BOI report remains accurate and up-to-date is crucial as your business evolves. With our Plus Plan, we’ve simplified the process into three essential steps, providing ongoing support to help you stay compliant all year long.

Continuous Compliance

As your business evolves, so do your reporting requirements. The Plus Plan ensures that any changes in ownership or other key details are promptly updated, keeping you compliant year-round.

No Additional Fees for Updates

Unlike other plans, the Plus Plan includes up to two updates within the year at no extra charge. This means you can adjust your filings as your business changes without worrying about extra costs.

Dedicated Support

Our team is here to assist you whenever you need to update your report. We provide the guidance and support you need to navigate the complexities of compliance, ensuring your business stays on track.

Debunking BOI Reporting Myths​

Don’t let common misconceptions put your business at risk. Understanding the true requirements and responsibilities of BOI reporting can help you avoid unnecessary penalties and ensure full compliance.

“It’s a One-Time Task”

Many believe BOI reporting is a one-and-done process, but any changes to ownership must be reported within 30 days.

“Filing Late Isn’t a Big Deal”

Late filings can lead to severe penalties, including daily fines that accumulate quickly.

“Small Businesses Are Exempt”

All businesses meeting the criteria, regardless of size, must comply with BOI reporting regulations.

Common Questions About the Corporate Transparency Act

Understanding the Corporate Transparency Act is essential for contractors. Below, we address some frequently asked questions to help you navigate your reporting obligations with confidence.
  1. What is the Corporate Transparency Act?
    • The Corporate Transparency Act requires businesses to report their beneficial ownership information to FinCEN. This act is part of broader efforts to combat financial crimes and increase transparency in business operations.
  2. Why is BOI reporting important?
    • BOI reporting helps prevent illegal activities like money laundering and fraud by ensuring that the individuals behind business entities are known and traceable.
  3. Who is required to file a BOI report?
    • Most businesses, including small contractors, LLCs, and corporations, are required to file a BOI report if they meet certain ownership or control criteria.
File My Report Now
What are the Penalties for Not Filing the BOI Report?
Understanding the consequences of not complying with the Corporate Transparency Act is crucial for any business. The penalties for failing to file a Beneficial Ownership Information Report are severe and can significantly impact your business operations.

As specified in the Corporate Transparency Act, a person who willfully violates the BOI reporting requirements may be subject to civil penalties of up to $500 each day the violation continues. However, this civil penalty amount is adjusted annually for inflation. As of the time of publication of this FAQ, this amount is $591.

For businesses already registered before January 1, 2024, there is a grace period extending up to January 1, 2025, to file their reports. New businesses, or those established after January 1, 2024, must submit their documentation within 90 days from their registration date. It’s crucial to note that penalties can apply not just for failing to file, but also for submitting incorrect or incomplete information. Ensuring the accuracy and completeness of the submitted report is as important as the submission itself.
The process of complying with the Corporate Transparency Act can be daunting without expert assistance. American Contractors Organization provides comprehensive support to ensure that your business meets all reporting requirements accurately and on time. Our services are designed to guide you through each step of the compliance process, helping you avoid the steep penalties associated with these federal mandates.

Frequently Asked Questions

The BOI Report is a mandatory filing under the Corporate Transparency Act, requiring companies to disclose information about individuals who own or control the company.

Most U.S.-registered companies, including corporations, LLCs, and partnerships, must file a BOI Report unless they qualify for specific exemptions.

The report must include the names, addresses, dates of birth, and identification numbers of the company’s beneficial owners.
Businesses registered before January 1, 2024, must file by January 1, 2025. Companies registered after January 1, 2024, have 90 days from their registration date.
Failing to file can result in civil penalties of up to $591 per day and criminal penalties, including fines up to $10,000 and imprisonment.
A beneficial owner is anyone who owns 25% or more of a company or exercises significant control over its operations.

Yes, any changes in ownership or control must be reported within 30 days to avoid penalties.

Yes, certain entities like publicly traded companies, banks, and large operating companies may be exempt.
The BOI Report only needs to be filed once unless there are changes to the beneficial ownership, which must then be reported within 30 days.
Yes, if more than one individual meets the criteria, all must be reported as beneficial owners.
The Act aims to increase transparency in business ownership to combat financial crimes like money laundering and fraud.
Filing the BOI Report is a legal requirement, and failure to comply can result in severe penalties, affecting your business’s operations and reputation.
American Contractors Organization offers comprehensive support to ensure your report is filed accurately and on time.
Navigating the BOI reporting process can be complex. Our team at American Contractors Organization will handle the submission for you, ensuring that everything is completed accurately and in full compliance with FinCEN’s requirements.
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