What is the BOI and why should you care? When you decide to start or invest in the United States, it is common to focus on the most visible: the structure of the business, growth opportunities, tax compliance. But there’s one key aspect that many people overlook: transparency about who the real owners of a company are.
The BOI, or Beneficial Ownership Information, is a regulation promoted by FinCEN (Financial Crimes Enforcement Network), a federal agency of the U.S. Department of the Treasury. Its purpose is clear: to combat money laundering, financial fraud and terrorist financing.
Until recently, it was possible to set up a company in certain states without publicly disclosing who controlled it. This facilitated illicit activities. The BOI arose as a response to this situation, and seeks to get companies to inform who their beneficial owners are, that is, the individuals who really own or control the company.
Who should file the BOI and when
The BOI regulation was approved at the end of 2023 and was expected to formally come into force from 2024. Although its objective was to promote transparency, from the beginning it generated many doubts about who should comply with it and in what deadlines.
This is what was established:
- If you registered a company on or after January 1, 2024, you had to submit the BOI within 60 to 90 days of its incorporation.
- If you already had a company before that date, you had the whole of 2024 to comply with this obligation.
The form had to be submitted directly to FinCEN and included details such as name, address, date of birth, and beneficial ownership identification number. Although the procedure was not complex, the lack of information led many entrepreneurs and investors to take risks without knowing it.
Is the BOI still mandatory?
And now the big question: is it mandatory to present the BOI today?
The answer is no, at least for now.
After several changes, here’s what happened:
In 2024, the system for submitting the BOI was enabled. Later that year, a federal court declared it unconstitutional. At the beginning of 2025, the regulations were reinstated, giving them until March to comply with them. Finally, the Treasury Department announced that, as of March 1, 2025, the BOI is no longer mandatory.
This does not mean that it has been definitively eliminated. The regulations can be reactivated at any time. At InterlinkFBC we constantly monitor these updates to keep our customers informed.
What happens if the BOI becomes mandatory again?
If at some point this regulation is reinstated – which is very likely – the government will give a deadline to present it. If you miss that deadline, you could face significant consequences:
- Fines of up to $10,000 for each day of delay.
- Possible obstacles to carrying out immigration or financial procedures.
- Loss of legal or commercial reputation.
Is it worth taking a risk for not filing a form that you can manage in time? If you have doubts or prefer to delegate this type of procedure, you can schedule a free consultation with our team and make sure you are protected.
What to do if you have already submitted the BOI
If you have already completed the BOI, you should not do anything. Even if it is not mandatory now, your procedure is still valid and does not have any negative effects. You don’t need to resubmit or modify it.
On the other hand, if you had not yet done so and were about to send it, it is best to stop for now, since the process is suspended. You would be dedicating time and resources to a process that is not currently required. In any case, we recommend that you keep the information you prepared, in case it is required again in the future.
How to stay informed in the face of so many changes
The real challenge is not filling out a form, but staying informed. The BOI’s regulations are just one example of how changing the legal and regulatory environment can be in the United States.
To avoid being outdated, we recommend:
- Follow reliable channels and media.
- Subscribe to our YouTube channel, where we share up-to-date news and analysis on investment, migration, and companies in the U.S.
- Ask us directly if you are considering opening a company or applying for an investor visa such as the E-2.
On our website you will also find downloadable resources, practical guides and personalized advice, all in Spanish.
Investing in the USA with information, without errors
The history of the BOI shows that when it comes to doing business in the United States, being informed is just as important as having capital. The rules can change from one day to the next, and those who are not attentive can be at a disadvantage.
If you are undertaking, investing or planning to immigrate to the USA, do not leave these issues to chance. Making decisions with information and professional support is what will allow you to move forward safely and build something solid in the U.S.
Schedule a free consultation with our team and answer all your questions with specialists.
