Register Your Business Today and Stay Compliant with the Corporate Transparency Act!


Failure to Register could result in a $10,000 fine!

Why Act Now?

Did you know the U.S. Congress has rolled out new federal reporting requirements for many small and mid-sized businesses? Don’t stress—Supernus Law is here to help you navigate these changes and keep your business in good standing. Let’s get your business registered and compliant with the Corporate Transparency Act today!

What Is BOI Reporting?

In 2021, the Corporate Transparency Act was signed into law by Congress to bring more transparency and crack down on shady activities involving shell companies. This Act means that all limited liability companies (LLCs) and small corporations need to report Beneficial Ownership Information (BOI) to the Financial Crimes Enforcement Network (FinCEN), a part of the U.S. Department of Treasury.

Starting January 1, 2024, businesses in Illinois have to report their beneficial owner(s) to FinCEN or face some pretty serious penalties. Don’t let that happen to you!

Do You Need to


You might need to file a BOI report if your business is:

  1. A corporation, LLC, or other business entity registered with the Illinois Secretary of State’s Department of Business Services, and
  2. You are a Beneficial Owner, which means you
    (a) own at least 25% of the entity, or
    (b) have substantial control over the company (people who are senior officers, key decision-makers, or people with the power to appoint and remove officers).

Are You Exempt?

Who Counts as a Beneficial Owner?

Some entities don’t need to worry about BOI reporting. This includes tax-exempt not-for-profits, publicly traded companies, banks, credit unions, investment advisors, brokers, public utilities, and subsidiaries of exempt entities. For a full list of exemptions, check out the FinCEN FAQs.

A beneficial owner is anyone who:

  • Owns at least 25% of an entity, or
  • Has substantial control over the entity (think senior officers, key decision-makers, or people with the power to appoint and remove officers).

What People Are Saying

Frequently Asked


You can file your BOI report with FinCEN’s online system (but be prepared, the questions can be confusing). 

You can obtain more information regarding BIO reporting, guidance on filing your report, as well as a list of frequently asked
questions, by visiting

Need a Hand? Contact Supernus Law!

We get it—BOI reporting can be confusing and time-consuming. That’s where Supernus Law comes in! Let us handle the details for you. Give us a call at 815-710-0200 or shoot an email to We’ll gather all the necessary info and file your BOI report, ensuring your business stays compliant and worry-free.

Get in touch with Supernus Law today and make sure you’re all set with the Corporate Transparency Act!

The deadline for filing your BOI report depends on when your business was registered. If your business was registered:

  • Before January 1, 2024: File by January 1, 2025.
  • On or After January 1, 2024, and before January 1, 2025: File within 90 days of your business’s incorporation or organization confirmation.
  • After January 1, 2025: File within 30 days of confirmation.

Ignoring BOI reporting can lead to hefty fines and even jail time. You could face:

  • Civil penalties of up to $500 per day.
  • Criminal penalties of up to two years in prison and a $10,000 fine.

Your BOI information is kept confidential and isn’t available to the general public. However, certain government officials and financial institutions might access it for national security, intelligence, law enforcement purposes, or compliance requirements—with your permission.

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⟐Phone Number: 815-710-0200


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