CTA BOI Compliance Calculator
Answer 5 questions to find out if your LLC or corporation must file a Beneficial Ownership Information (BOI) report — and get your exact deadline.
Enforcement status is evolving
The CTA and its BOI reporting requirements have faced multiple court challenges since 2024. Before filing or concluding you are exempt, verify current FinCEN guidance at fincen.gov/boi. This tool is for informational purposes only — not legal advice.
1. Does your business have a US-registered legal entity?
Sole proprietors and unincorporated businesses are generally not covered by the CTA.
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<iframe src="https://www.mystatellc.com/tools/cta-compliance?embed=1" width="100%" height="720" frameborder="0" style="border:0;max-width:820px;display:block;margin:0 auto;" title="CTA BOI Compliance Calculator" loading="lazy"></iframe> <p style="text-align:center;font-size:.8125rem;color:#6b7280">Source: <a href="https://www.mystatellc.com/tools/cta-compliance">MyStateLLC CTA Compliance Calculator</a></p>
What the Corporate Transparency Act means for your LLC
The Corporate Transparency Act (CTA), enacted in 2021 and effective January 1, 2024, requires most US LLCs and corporations to file a Beneficial Ownership Information (BOI) report with FinCEN — the Treasury Department's financial crimes bureau. The report discloses who ultimately owns or controls the company. The CTA was designed to combat money laundering and shell company abuse, but it applies to the vast majority of small businesses, not just financial institutions.
- Existing LLCs formed before January 1, 2024 had until January 1, 2025 to file their initial report
- New LLCs formed in 2024 or later must file within 30 days of formation
- Failure to file carries penalties of up to $500/day and criminal penalties of up to $10,000 and 2 years in prison
- There are 23 exemption categories — large operating companies, banks, and regulated entities are most commonly exempt
How CTA BOI reporting works
🏛 What is the CTA?
The Corporate Transparency Act (2021) requires most US LLCs and corporations to disclose their beneficial owners to FinCEN, a bureau of the US Treasury Department.
👤 Who is a beneficial owner?
Any individual who owns or controls ≥25% of the company, or who exercises "substantial control" — senior officers, board members, or those with authority over major company decisions.
📋 23 exemption categories
Large operating companies (>20 FTE, >$5M revenue), banks, insurance companies, SEC-registered entities, nonprofits, and 18 other categories are exempt from filing.
⚠️ Ongoing obligations
After the initial filing, you must submit updates within 30 days whenever beneficial ownership information changes — a new owner, a name change, or an address update.
CTA Compliance Matrix — quick reference
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| Entity type | Employees / Revenue | Industry / status | BOI filing required? |
|---|---|---|---|
| LLC or Corp | Any | Bank, insurance, SEC-registered, etc. | EXEMPT |
| LLC or Corp | Any | Tax-exempt nonprofit (501(c)) | EXEMPT |
| LLC or Corp | >20 FTE + >$5M rev | No regulated industry | EXEMPT — large company |
| LLC or Corp | ≤20 FTE | No regulated industry | REQUIRED |
| LLC or Corp | Any, ≤$5M rev | No regulated industry | REQUIRED |
| Sole prop / no entity | Any | Any | NOT APPLICABLE |