The Reporting Rule is effective on January 1, 2024. FinCEN will begin accepting BOI reports electronically through its secure filing system on this date. BOI reports will not be accepted prior to January 1, 2024. This chapter explains when your company should file its initial BOI report and how to do so in the following two sections:

• 5.1 When should my company file its initial BOI report?
• 5.2 How does my company file a BOI report?

This chapter generally covers 1010.380(a)(1), (Timing of) "initial reports".