Beneficial Ownership Information (BOI) Report
A mandatory filing in the US under the Corporate Transparency Act detailing the individuals who ultimately own or control a company.
Enforced by FinCEN starting in 2024, the BOI report requires most registered entities in the US to disclose identifying information about their beneficial owners (individuals with substantial control or owning 25%+ of the company). Failure to file can result in severe civil and criminal penalties.
Related terms
Compliance
Nominee Director
A third-party director appointed to a company's board to meet local residency requirements or protect the privacy of the actual owners.
ComplianceApostille
An international certification that authenticates a public document for use in another country under the Hague Convention.