Beneficial Ownership Information Reporting Consulting & Filing
Financial Crimes Enforcement Network (FinCEN) estimates tens of millions of business need to file their BOIR forms by 1/1/25 - but have provided very little guidance in how
Why File with Us?
Expert Counseling: Our team of experienced attorneys specializes in BOI Reporting, ensuring your specific situation receives comprehensive and accurate guidance.
Liability Management: We take on the full responsibility and liability of BOI Reporting, giving you peace of mind and protecting your business.
Team Approach: Each case is handled by a dedicated team of attorneys, guaranteeing meticulous attention to detail and high-quality service.
Legal Opinion Letter: Prior to filing your BOIR, our attorneys will provide you with a legal opinion letter which will spell out the Beneficial Owners based on the guidance provided by FinCEN.
Fixed Pricing: BOIR filings can get very complicated very quickly with all of the various “Catch-all” clauses, reporting companies etc. No matter your situation, Pactum Law Group will charge only $200 per Beneficial Owner identified which is inclusive of filing costs.
Get expert legal advisory for your business’ Beneficial Ownership Information Report filing
Meet Your Team
Omar Rahman, Esq.
Senior Attorney
With over 20 years of experience in civil litigation, Omar Rahman specializes in contractual and compliance law. His extensive background includes representing clients in complex disputes and ensuring compliance with regulatory requirements. Omar’s expertise in navigating intricate legal landscapes has made him a trusted advisor for businesses seeking robust legal support.
Craig Manolas, Esq.
Senior Attorney
Craig Manolas is an expert in business contracts, dedicating his entire career to mastering the art of contractual agreements. His profound understanding of business law has enabled him to draft, negotiate, and manage a wide array of contracts, from small business agreements to large-scale corporate deals. Craig’s meticulous attention to detail and strategic approach ensure that her clients’ interests are always protected.
Jake Tomaravic, Esq.
Senior Attorney
Jake Tomar brings extensive knowledge in corporate structuring to Pactum Law Group. With a career spanning over 25 years, he has helped numerous businesses optimize their corporate structures for maximum efficiency and compliance. Jake’s strategic insights and innovative solutions have been instrumental in guiding companies through mergers, acquisitions, and reorganizations, ensuring long-term success and stability.
The Pactum Law Group BOIR Process
Beneficial Ownership Information Reporting can get very complicated very quickly - but our expert team makes it easy! Sign up today and ensure that your business receives the attention to detail that this new compliance requirement needs.
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Our process begins with a thorough understanding of your business's unique fact pattern. We conduct an in-depth analysis of your company's structure, ownership, and operational details to identify all relevant factors. This foundational step ensures we have a complete and accurate picture of your specific situation, allowing us to tailor our advice and services to meet your exact needs.
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Once we have a clear understanding of your fact pattern, our team of experts will identify the beneficial owners within your organization. This involves analyzing ownership stakes, control rights, and other relevant criteria to ensure all individuals who meet the legal definition of beneficial owners are accurately identified. Our meticulous approach guarantees that no critical detail is overlooked.
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After identifying the beneficial owners, we will issue a comprehensive Legal Opinion Letter. This letter clearly outlines who should be included in the filing, categorizing individuals into two groups: those definitely required and those potentially captured under catch-all clauses. This document provides you with a clear and authoritative understanding of your compliance obligations.
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The final step in our process is the filing of the Beneficial Ownership Information Report (BOIR) on your behalf. Once the Legal Opinion Letter is reviewed and signed, our firm will complete and submit the necessary documentation to the relevant authorities, typically within 3 business days. This ensures that your business meets its regulatory requirements promptly and accurately.
Can I do this on my own?
Why Use a Law Firm to file your Beneficial Ownership Information Report?
Extreme Penalties: Most US companies have until 1/1/25 to file their initial BOIR. Failure to do so could result in very harsh penalties include:
Civil penalties of $591 per day for each day failing to file.
Additional fines up to $10,000 for willful neglect.
Possible criminal offense with up to 2 year of prison time for not filing or filing inaccurately.
Limited Guidance: The FinCEN Small Business Compliance handbook which dictates the rules behind filing a BOIR is only 57 pages and contains legal jargon that most business owners have neither the interest nor the time to study and apply.
Complex Situations: Except in the most cut and dry cases, interpreting the BOIR requirements can get complicated very quickly especially if:
Your company has two or more potential Beneficial Owners.
Your company has any kind of convertible debt instrument.
Individuals not officially on record have substantial control.
Keep Your Company in Compliance: Failing to have an accurately filed BOIR by 1/1/25 could cause missed opportunities such as government contracts, SBA loans and more.
In one of the more simple examples provided in the official FinCEN Small Business Compliance handbook, this relatively simple entity structure has at least 4 Beneficial Owners just for the Reporting Company.
Failing to understand the nuisances of cases like this could lead to an incorrect filing and harsh civil and criminal penalties.
Get piece of mind and make your BOIR filing a piece of cake!
Beneficial Ownership Information Reporting is not going away. Given the harsh penalties and legal implications of a correct filing, getting in compliance sooner rather than later is key. Don’t wait until the last minute - let our experienced attorneys guide you through this maze of new regulations and get your filing in today.