{"id":952,"date":"2024-10-24T01:58:52","date_gmt":"2024-10-24T01:58:52","guid":{"rendered":"https:\/\/www.ofhlonline.org\/courses\/?p=952"},"modified":"2024-10-24T01:58:52","modified_gmt":"2024-10-24T01:58:52","slug":"b-o-i-report","status":"publish","type":"post","link":"https:\/\/www.ofhlonline.org\/courses\/b-o-i-report\/","title":{"rendered":"B.O.I. Report"},"content":{"rendered":"\n<p>The Beneficial Ownership Information Report<\/p>\n\n\n\n<p>How does a reporting company report a corporate trustee as a beneficial owner?<br>For purposes of this question, \u201ccorporate trustee\u201d means a legal entity rather than<br>an individual exercising the powers of a trustee in a trust arrangement.<br>If a reporting company\u2019s ownership interests are owned or controlled through<br>a trust arrangement with a corporate trustee, the reporting company should<br>determine whether any of the corporate trustee\u2019s individual beneficial owners<br>indirectly own or control at least 25 percent of the ownership interests of the<br>reporting company through their ownership interests in the corporate trustee.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>For example, if an individual owns 60 percent of the corporate trustee of a<br>trust, and that trust holds 50 percent of a reporting company\u2019s ownership<br>interests, then the individual owns or controls 30 percent (60 percent \u00d7 50<br>percent = 30 percent) of the reporting company\u2019s ownership interests and is<br>therefore a beneficial owner of the reporting company.<\/li>\n\n\n\n<li>By contrast, if the same trust only holds 30 percent of the reporting<br>company\u2019s ownership interests, the same individual corporate trustee owner<br>only owns or controls 18 percent (60 percent \u00d7 30 percent = 18 percent) of<br>the reporting company, and thus is not a beneficial owner of the reporting<br>company by virtue of ownership or control of ownership interests.<br>The reporting company may, but is not required to, report the name of the corporate<br>trustee in lieu of information about an individual beneficial owner only if all of the<br>following three conditions are met:<\/li>\n\n\n\n<li>the corporate trustee is an entity that is exempt from the reporting<br>requirements;<\/li>\n\n\n\n<li>the individual beneficial owner owns or controls at least 25 percent of<br>ownership interests in the reporting company only by virtue of ownership<br>interests in the corporate trustee; and<\/li>\n\n\n\n<li>the individual beneficial owner does not exercise substantial control over the<br>reporting company.<\/li>\n<\/ul>\n\n\n\n<p>Corporate Entities:<br>Statutory Trust<br>Business Trust<br>Foundation<br>Not created by the filing of a document with the secretary of state or similar office<\/p>\n\n\n\n<p>What is it?<br>Which law governs these requests? The Corporate Transparency Act<br>Who qualifies for exemptions?<br>How do you file? File a report using the BOI E-filing system.<br>How do I get a FinCEN ID? Create a FinCen id (optional)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Beneficial Ownership Information Report How does a reporting company report a corporate trustee as a beneficial owner?For purposes of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-952","post","type-post","status-publish","format-standard","hentry","category-financial-independence"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/posts\/952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/comments?post=952"}],"version-history":[{"count":2,"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/posts\/952\/revisions"}],"predecessor-version":[{"id":954,"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/posts\/952\/revisions\/954"}],"wp:attachment":[{"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/media?parent=952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/categories?post=952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ofhlonline.org\/courses\/wp-json\/wp\/v2\/tags?post=952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}