Beneficial Ownership Information (BOI) reporting requirements and updates

UPDATE AS OF MARCH 5, 2025: Effective immediately, LLCTLC will no longer file BOI reports on behalf of clients. Department of Treasury put out the following statement 3/2/25: "The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either." Thus, while the reporting requirements are still technically 'in effect,' there will be no penalties for non-compliance.

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UPDATE AS OF FEBRUARY 25, 2025:

If you have already filed a BOI report, no further action is needed, unless changes have been made to your LLC. If changes have been made to your LLC since you filed the BOI report, you have 30 days to update your BOI report.

Beneficial Ownership Information (BOI) reporting requirements have been reinstated. As of yesterday's ruling, a Beneficial Ownership Information Report must be filed by March 21, 2025.  You may file the reports yourself, OR we can file them on your behalf.

If you would like LLCTLC to file on your behalf:

We charge a service fee of $115 per BOI Report. Complete and return a BOI Request Form.  Email the forms back to support@llctlc.com, and attach a clear picture or scan of each beneficial owner's identification. (Drivers' License or Passport are most commonly used).  

To file the BOI reports yourself:

Instructions on completing this BOI report can be found here. 

To file this report, you will be required to provide the following information:

• The LLC name and address

  • Montana LLC: 415 North Benton Ave, Helena MT 59601

• The Tax Identification Number 

  • This can be an EIN or Social Security Number (SSN)

  • Email support@llctlc.com for more information on obtaining an EIN.

• If your entity was established January 1, 2024 or later, you will need to provide a  Company Applicant FinCEN ID number. We provided this in a follow up email when you first signed up (Subject: Required Beneficial Ownership Information Report). If you cannot find that information, please contact support@llctlc.com.

• For each beneficial owner, you will need to provide the following information:

  • Full name

  • Residential address 

  • Date of birth

  • Copy of Identification (ie. driver's license, passport, etc) 

  • If any of the above information changes, you must file an updated BOI report within 30 days. 

• You are welcome to email us a copy of the completed report. We can upload that to your client portal for your future reference.

Please consult your accountant if you have specific questions about your entity's BOI report.

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