Pricing does depend on the number of Beneficial Owners (BO's) the company has. If a company has just one BO, there's no extra charge. Our pricing tiers range from 2-5, 6-10 and then 10 or more. For 10 or more, we will need to have a conversation with you to determine the final price.
If you don't know the number of BO's your company has, we have a FREE expert system to help you figure this out.
A Beneficial Owner is an individual who either directly or indirectly: (1) exercises substantial control over the Company, or (2) owns or controls at least twenty-five (25%) percent of the Company’s ownership interests.
Substantial control means senior officers or managers, as well as those individuals who have significant authority or are an important decision-makers within the Company. There is a catch-all in the statute and as identified by FinCEN, so if you're not sure, it's better to assume an individual is an important decision-maker.
An ownership interest means equity, stock, voting rights, capital or profit interest, as well as convertible instruments, options and privileges. Again, there is a catch-all in the statute and as identified by FinCEN, so if you're not sure, it's better to assume an individual does maintain an ownership interest.
This is a very complicated area of the law, is brand new with no court precedence, and carries significant financial penalties (up to $500/day) and criminal sanctions (i.e. jail time). Our recommendation is to be conservative in your thinking, don't make too many assumptions, and over time, the law will settle and you can dial-back what these terms mean as appropriate.
If you debate any of this, have questions, or just aren't sure, we strongly recommend a 30-minute BOI Attorney Consult. We also have a FREE expert system that can help you answer the question how many beneficial owners does your company have?