If you formed an LLC or corporation in North Carolina, there’s a federal filing you may still need to take care of — separate from anything you file with the NC Secretary of State.
What is Beneficial Ownership Information (BOI) reporting?
The federal Corporate Transparency Act (CTA) requires most corporations, LLCs, and similar entities to report information to the U.S. government about who ultimately owns and controls them. The report goes to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury — not to North Carolina. It’s meant to help prevent money laundering, terrorist financing, corruption, and tax fraud.
Who has to file?
Unless your entity qualifies for an exemption, you’re required to file. Reporting deadlines vary depending on when your company was formed, so don’t assume a general rule applies to you — check FinCEN’s own site for the exemptions and deadlines that apply to your situation.
What happens if I don’t file?
Significant penalties can apply for failing to submit required BOI information on time. This isn’t optional paperwork to put off.
Note: the North Carolina Secretary of State does not administer this program — it’s entirely federal. The authoritative source for exemptions, deadlines, and filing is FinCEN itself: fincen.gov/boi.
Not sure whether your LLC needs to file, or want help keeping track of federal and state compliance deadlines going forward? NC LLC Agents can help you stay on top of it.