Subtotal: $500
Beneficiary Ownership Information Report (BOIR)
$179
At FCCR, we know that keeping up with DOT regulations can be confusing and take a lot of time. Our expert team is here to make this process easier for you. By letting us handle your DOT compliance, you can be sure everything is filed correctly and on time, avoiding any legal or financial issues. We use our expertise to make compliance simple, so you can focus on growing your business. Trust FCCR for a worry-free and easy compliance experience.
Product Description
The DOT Beneficiary Ownership Information Report (BOIR) is designed to provide detailed information about the individuals who ultimately own or control a company. This report is part of efforts to enhance transparency and combat financial crimes such as money laundering and terrorism financing.
Key aspects of the DOT BOI Report include:
1. Ownership and Control Details: It lists the names, addresses, dates of birth, and identification numbers of beneficial owners, who directly or indirectly own a significant percentage of the company’s shares or have substantial control over its activities.
2. Transparency: The report aims to make corporate ownership structures more transparent, making it easier for regulatory authorities and law enforcement agencies to track and prevent illicit financial activities.
3. Regulatory Compliance: Companies must submit this report to comply with regulatory requirements. This ensures that the companies operate within the legal framework designed to prevent financial misconduct.
4. Updates and Accuracy: The information in the BOIR must be kept up-to-date. Companies are often required to submit updates whenever there are changes in their beneficial ownership or control structure.
5. Confidentiality and Security: While the report increases transparency, it also ensures that sensitive information is protected and only accessible to authorized personnel, such as regulatory bodies and law enforcement agencies.
Here is the FMCSA CFR regarding this compliance.
