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What are the penalties for not filing BOI?

Providing false information or failing to report/update beneficial ownership may lead to penalties. Civil fines are $500 per day, and criminal penalties include fines up to $10,000.

If a report with inaccurate information is filed without the reporting company's knowledge, there's a 90-day safe harbor to submit a corrected report.

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Check your EIN confirmation letter (CP 575) first. If that is gone, look at a previously filed tax return, a business bank account application, or any 1099 you have issued. Your bank or your payroll provider will also have it on file.

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