BOI Reporting Services
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Paychex BOI Reporting helps businesses reduce the risk of penalties, including $591/day fines for non-compliance. BOI Reporting services cost $200 for current Paychex clients and $250 for non-clients.

File your report in minutes with this simple online tool. Our team will track progress from submission to transcript, helping to protect your business.

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Current Paychex Clients

BOI Reporting in 3 Easy Steps

Your online dashboard will walk you through the regulation while collecting the correct information to help keep your company compliant with the Corporate Transparency Act.

1. Enter Your Company Details

Enter or review basic information about your company.

2. Add Your Business Owner

Our easy-guided system will walk you through the filing and capture all needed information to help file an accurate report the first time and help you to avoid potential penalties.

3. Submit Your Filing & Enjoy Extras

Review your information and file your report. Our team will track your filing from submission to transcript to make sure your business is protected.

Simplify BOI Reporting

Paychex makes filing your BOI report quick and simple. Our online BOI portal allows you to submit your report in approximately 15 minutes.

Current Paychex Clients Can Access BOI Reporting in Paychex Flex®

Current Paychex clients can easily access the BOI Reporting service in their Paychex Flex dashboard. Only Super Admins can activate the service.

In the dashboard’s left navigation bar, select:

Company Details
BOI (Beneficial Ownership Information) Reporting
Get Started

Start BOI Reporting

What To Know About BOI Reporting

Business Requirements

Many businesses must report their beneficial owners. A beneficial owner is someone who has a stake of 25% or more in a legal entity or corporation, or exercises substantial control over the reporting company. A business may have multiple beneficial owners that own or control the company.

BOI Deadlines

FinCEN extended deadlines after a current court decision:

Reporting companies created or registered prior to Jan. 1, 2024, have until Jan. 13, 2025.
Reporting companies created or registered in the U.S. on or after Sept. 4, 2024, that had the deadline between Dec. 3 and Dec. 23, 2024, have until Jan. 13, 2025.

Non-Compliance Penalties

Potential civil penalties include fines of $591 per day, up to $10,000, while criminal penalties could include imprisonment of up to two years.

BOI Reporting Frequency

If there is a change in beneficial owner information, an amended report must be filed no later than 30 days after the date of the change. The Paychex BOI Reporting Service can take this added burden off your business to further assist you with your reporting obligations.

BOI Reporting Frequently Asked Questions

Get the answers to your most asked questions on BOI reporting.

What Is a BOI Report?
What Is a BOI Report?

A BOI report includes information about the individuals who own or control certain companies. This information is intended to improve transparency and help combat issues like money laundering or fraud.
How Much Does BOI Reporting Cost?
How Much Does BOI Reporting Cost?

BOI Reporting services cost $200 for current Paychex clients and $250 for non-clients.
Current Paychex clients can access BOI Reporting services within their Paychex Flex dashboard.
You don’t have to be a Paychex client to utilize our BOI Reporting Services. Start your BOI Reporting here if you aren't a Paychex client.
Who Is Considered Beneficial Owner for BOI Reporting?
Who Is Considered Beneficial Owner for BOI Reporting?

Beneficial ownership refers to anyone who directly or indirectly has substantial control over or owns or controls at least 25 percent interest in a business. Beneficial owners are individuals – trusts, corporations, or other legal entities are not considered beneficial owners. Instead, those types of organizations may be considered reporting companies.
What Are The BOI Reporting Requirements?
What Are The BOI Reporting Requirements?

The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) requires most domestic and foreign businesses registered to do business in the U.S. to report their BOI starting in 2024.
Corporations, LLCs (Limited Liability Company), or other businesses who file documents with the Secretary of State (or similar office) are included in this requirement, unless they meet the criteria for any of the exemptions under the rule.
Who Needs to File a BOI Report?
Who Needs to File a BOI Report?

Companies must identify and report beneficial owners in a BOI report and also need to include information on the reporting company.
Who Is Exempt From BOI Reporting?
Who Is Exempt From BOI Reporting?

There are 23 exemptions to BOI reporting. Paychex can help to determine if your business meets the criteria for an exemption.
Do I Need To File A BOI For My LLC?
Do I Need To File A BOI For My LLC?

If your LLC is considered a “Reporting Company” under the FinCEN guidelines, you must file a BOI report. These guidelines usually apply to most domestic and foreign entities registered to do business in the United States, with some exceptions.
Do Nonprofits Have To File A BOI Report?
Do Nonprofits Have To File A BOI Report?

Nonprofits that are 501(c) tax-exempt are not required to file a BOI report. However, nonprofits that are not 501(c) tax-exempt may be required to file a BOI report.
Where Can Paychex Clients Access the BOI Solution in Paychex Flex?
Where Can Paychex Clients Access the BOI Solution in Paychex Flex?

If you’re working with Paychex and are interested in the Paychex BOI Reporting solution, it's easy to find in Paychex Flex. Only Super Admins can activate the service.
Please have your super admin login to Paychex Flex. In the Dashboard's left navigation bar, select Company Details > BOI (Beneficial Ownership Information) Reporting > Get Started
What Happens If I Don’t File a BOI Report?
What Happens If I Don’t File a BOI Report?

Willfully failing to file a required BOI report could lead to significant repercussions. Civil penalties may be incurred, with fines reaching up to $591 for each day of non-compliance, capping at $10,000. Criminal penalties are also possible, including up to two years in prison.
Where Can I Find More Information and Get Help With BOI Reporting?
Where Can I Find More Information and Get Help With BOI Reporting?

Reach out to Paychex for personalized support for BOI reporting. You can also visit https://www.fincen.gov/boi for comprehensive resources and the latest updates.