1.1 Is my company a "reporting company"?

The Reporting Rule requires that all "reporting companies" file BOI reports with FinCEN within the previously specified timeframes. A reporting company is any entity that meets the "reporting company" definition and does not qualify for an exemption. There are two categories of reporting companies: a "domestic reporting company" and a "foreign reporting company". If your company is neither a "domestic reporting company" nor "foreign reporting company" because it does not meet either definition (as described below) or it qualifies for an exemption, then it is not required to file a BOI report with FinCEN.

The following chart shows how to analyze whether your company is a "reporting company":

Chart 1 - Reporting company definition

FYI

Unless otherwise specified, States and Indian tribes have the following meanings in this Guide and the Reporting Rule.

  • States means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, the United States Virgin Islands, and any other commonwealth, territory, or possession of the United States.
  • Indian tribes means any Indian or Alaska Native tribe, band, nation, pueblo, village or community that the Secretary of the Interior acknowledges to exist as an Indian tribe. (See section 102 of the Federally Recognized Indian Tribe List Act of 1994 (25 U.S.C. 5130)).