Do I need to file a BOI report, and will doola handle it?

In 2021, Congress passed the Corporate Transparency Act on a bipartisan basis. This law creates a new beneficial ownership information reporting requirement as part of the U.S. Thank you for reaching out! I wanted to clarify that doola no longer offers BOI (Beneficial Ownership Information) filing services . This means we cannot submit or manage BOI reports on your behalf. If your bank or regulatory requirements are requesting BOI information, you will need to handle it directly with the relevant government or regulatory authority. Typically, BOI filings are required to comply with the Corporate Transparency Act in the U.S., and businesses must report information about their beneficial owners directly to the Financial Crimes Enforcement Network (FinCEN). You can find the official filing instructions and guidance on the FinCEN website . For banking purposes, most U.S. banks will accept your EIN confirmation, company formation documents, and personal identification for account opening. Even without Doola handling BOI filings, you can still provide banks with the standard documents we help you obtain, such as your formation certificate, registered agent address confirmation, and EIN fax confirmation . If you need to verify beneficial ownership for compliance, we recommend preparing your own BOI filing or consulting a compliance service that specializes in FinCEN reporting. Handling it yourself or through a specialized service ensures your filings are accurate and meet regulatory requirements. We understand BOI reporting may be confusing, but rest assured that your Doola-formed entity is fully legitimate for banking, tax filings, and other business purposes in the U.S. Our team can continue to support you with formation documents, EIN verification guidance, and general setup assistance , even though BOI filing is no longer offered through our platform. Please let us know if you’d like guidance on how to submit BOI information directly, or if you have any other questions regarding U.S. banking or compliance requirements for your company. Yes, businesses can. To file their company's BOI report on their own, go to FinCEN’s BOI E-Filing website and select “File BOIR.” For more information about Beneficial Ownership Information Reporting, businesses can visit the FinCEN FAQs. The processing fee to file their company's beneficial ownership information(BOI) is $199. Beneficial ownership information refers to identifying information about the individuals who directly or indirectly own or control a company. For more information about Beneficial Ownership Information Reporting, businesses can visit the FinCEN FAQs.