Lisa and the Law

All New Businesses Must List Their Company Applicants – No Exceptions

Posted on February 18, 2025

Reporting Companies formed after January 1, 2024, must include the Personal Identifying Information (PII) of their Company Applicant(s) on their initial Beneficial Ownership Information Report (BOIR). A Company Applicant is the person who advised and directed the business owner to create a company and the person who actually filed the paperwork to create the new business. There may be no more than two Company Applicants, and they may be an attorney and that attorney’s paralegal, a CPA or the business owner if the business was formed by the business owner. The PII of the Company Applicant does not need to be updated and it is only reported once.

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