Palm | Free BOIR E-Filing Service

What is the BOIR?

A new law went into effect January 1, 2024 that requires small businesses to report who their owners are through the Beneficial Owner Information Report (“BOIR”). This helps the US Financial Crimes Bureau protect small businesses and fight crimes like money laundering, corruption, and fraud.

File my BOIR for free

Formation With Palm is Easy, Secure, & Safe

Step 1

Add your information

Legal Business Name & Trade Names or DBAs
Business Address & State of Formation or Registration
Federal Tax ID Number (EIN)
Owner(s) ID, Date of Birth & Address

Step 2

Expert personal review

Palm’s expert FINCEN team will manually review each submission & alert you with any changes or concerns

Step 3

Save For The Future

Palm submits directly to FINCEN through Palm’s Secure Integration and will send you your transcript and newly created FINCEN ID, saving your profile to file in future years.

Get Started Today

FAQs

What happens if you don't file?

Failing to comply can lead to serious consequences:
• Criminal penalties: Up to two years in prison and/or fines up to $10,000.
• Civil penalties: Fines up to $591 per day until you comply.

Deadlines to Remember:
• Existing businesses (established before January 1, 2024): File by January 1, 2025.
• New businesses (formed on or after January 1, 2024): File within 90 days of formation.

Even timely filings can incur penalties if information is inaccurate. Palm ensures your report is correct and comprehensive.

Who doesn't need to file?

Some entities are exempt from filing, including:
• Publicly traded companies
• Tax-exempt nonprofit organizations
• Certain large operating companies
• Other specific entities defined by FinCEN

Palm can help you determine if your business qualifies for an exemption, giving you clarity and peace of mind.

How does this affect LLCs?

Whether you own a single-member or multi-member Limited Liability Company (LLC), you're required to comply with the new reporting requirements. Palm simplifies this process, providing the guidance you need to meet federal mandates confidently and efficiently.

Do new businesses need to file?

Yes. New Businesses have to file within 90 days of formation or face penalties.

What do I need to file?

• Basic company information
• Owner details (name, address, date of birth)
• Company formation information like date formed, state, etc
• Palm will guide through exactly what’s required

File my BOIR for free

Learn more about the BOIR

Understanding the Beneficial Ownership Info Report (BOIR)

Navigate the complexities of the Beneficial Ownership Information Report (BOIR) to ensure compliance and avoid penalties.

Who Must File a Beneficial Owner Information Report

Unsure Who Needs to File a Beneficial Owner Information Report? Learn which businesses must comply to avoid penalties and ensure transparency.

5 Myths About BOI Filing You Need to Stop Believing

Separate fact from fiction with these 5 myths about BOI filing. Avoid stress and penalties by understanding the truth behind BOI requirements.

See all BOIR resources

You have until January 1st to file your BOIR

Don’t worry.
‍Palm makes it easy.

Fill out the BOIR form.

Never do it again.

Enjoy your easier life.

What is the BOIR?

Do I need to file a BOIR?

FAQs

Learn more about the BOIR

The smartest way to file your BOIR.

You have until January 1st to file your BOIR

Don’t worry. ‍Palm makes it easy.

Fill out the BOIR form.

Never do it again.

Enjoy your easier life.

What is the BOIR?

Do I need to file a BOIR?

FAQs

Learn more about the BOIR

The smartest way to file your BOIR.

Don’t worry.
‍Palm makes it easy.