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Beneficial Ownership Information Report – Standard Plan

$125.00

What is the Standard Plan?

The Standard Plan is designed for contractors who want expert assistance in preparing and filing their BOI report. We gather the necessary information, compile it into a comprehensive report, and guide you through the review process before filing it on your behalf.

How the Standard 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 the Report

You’ll receive the audited report to carefully review the details. This is your chance to ensure all information is accurate and make any necessary corrections.

Confirm and Submit

Once you’ve reviewed and approved the report, we handle the final submission to FinCEN, ensuring everything is completed accurately and on time.

Why Choose the Standard Plan?

The Standard Plan offers the right balance between guidance and autonomy. It’s ideal for contractors who want to ensure their BOI report is filed accurately without the burden of managing the entire process. With our expert audit and review, you can be confident that your report will be accurate and compliant.

Comprehensive gathering and auditing of your BOI information

Detailed report preparation and review process

Timely reminders to ensure you complete each step on time

How the Standard Plan Saves You Time and Money

Efficient Process

Our streamlined approach ensures that all required information is gathered, audited, and submitted without unnecessary delays, saving you valuable time.

Minimized Risk of Penalties

By handling the details for you, we help avoid costly errors that could result in fines, ensuring your report is filed correctly the first time.

Focus on Your Business

With us managing the BOI filing process, you can concentrate on what matters most—running your business—without the stress of navigating complex compliance requirements.

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.
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How to Stay Ahead of Your BOI Reporting Obligations
Staying compliant with Beneficial Ownership Information (BOI) reporting can seem overwhelming, but with the right approach, you can manage these requirements efficiently. Here’s how to ensure you’re always ahead of the curve:
  1. Establish Clear Record-Keeping Practices
    • Accurate and up-to-date records are the foundation of compliance. Ensure that all ownership details, changes, and related documentation are organized and easily accessible. This makes the reporting process smoother and less prone to errors.
  2. Set Reminders for Key Deadlines
    • Mark your calendar with critical BOI reporting deadlines. Regularly review these dates to avoid last-minute rushes and the potential for fines. Automated reminders can be particularly useful in ensuring that nothing slips through the cracks.
  3. Engage Professional Assistance When Needed
    • Navigating the complexities of BOI reporting is easier with expert support. Whether you require help in understanding the requirements or need a professional to manage the filing process, don’t hesitate to seek assistance. This can save time and prevent costly mistakes.
  4. Regularly Review Your Filing Status
    • After submitting your BOI report, periodically check to ensure that all filings are up to date and have been processed correctly. If there are any discrepancies, address them immediately to maintain compliance.
With these proactive measures, you can maintain full compliance with BOI reporting regulations, reducing the risk of penalties and keeping your business operations running smoothly.

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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