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BOI Reporting Penalties

Original BOI penalties under the Corporate Transparency Act were severe: civil $500/day up to $10,000 and criminal up to 2 years imprisonment. The March 2025 Interim Final Rule exempts domestic LLCs from filing. This guide covers penalty structure and current relevance.

Answer

The Corporate Transparency Act originally imposed severe BOI non-filing penalties: civil penalties of $500/day up to $10,000 plus criminal penalties of up to 2 years imprisonment for willful violations. With FinCEN's March 26, 2025 Interim Final Rule exempting domestic US entities, these penalties currently do not apply to Wyoming LLCs. If the exemption is reversed by future rule-making, penalty exposure could resume. Foreign entities registered in US states may still face BOI obligations and penalty exposure.

By Zawwad, Founder & CEO, WyomingLLC by Topslice LLC.

Last updated May 20, 2026

Original penalty structure

  • Civil penalty: $500/day for each day a report is late, up to $10,000
  • Criminal penalty: up to 2 years imprisonment for willful violations
  • Willful false statement: separate criminal exposure for providing false information
  • Multiple-year non-filing: penalties stack per year and per entity

Current status

Under the March 26, 2025 Interim Final Rule, domestic Wyoming LLCs do not file BOI and therefore cannot be penalized for non-filing. The exemption protects against penalty exposure unless and until the rule is reversed.

If the rule reverses

If FinCEN modifies the Interim Final Rule to require BOI again, penalties would presumably apply prospectively to non-filers after the new effective date. WyomingLLC monitors regulatory changes and notifies customers if status changes.

Frequently asked questions

Do BOI penalties apply to Wyoming LLCs now?
Not currently. Domestic LLCs are exempt under March 2025 Interim Final Rule.
What was the original maximum penalty?
Civil up to $10,000 plus criminal up to 2 years imprisonment for willful violations.
Could penalties return?
Yes if FinCEN modifies the Interim Final Rule. WyomingLLC monitors and notifies.
Do foreign entities still face penalties?
Foreign-formed entities registered in US states may still have BOI obligations and penalty exposure.

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