F1120ES FOR C-CORPORATIONS

International CPA of Miami
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MIAMI

1395 Brickell Ave Suite 800
Miami, FL 33131
+1 (305) 204-9545

TAMPA

1101 S. Belcher Road, Suite G
Largo, FL 33771
+1 (305) 204-9545

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FLORIDA DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION

Completion of the BEA SURVEY (Bureau Of Economic Analysis) & BOI (Beneficial Ownership Information)

BEA's surveys of foreign direct investment (FDI) in the United States collect information that is used to compile statistics on the scale of foreign-owned business activities in the United States and the effects these activities have on the U.S. economy. Business leaders look to these statistics to make informed decisions about hiring and investing. Policymakers and researchers use them to analyze the impacts of foreign direct investment on employment, wages, productivity and tax revenues. All surveys of foreign direct investment in the United States are mandatory and confidential.

Beneficial ownership information (BOI) refers to identifying information about the individuals who directly or indirectly own or control a company. In 2021, US Congress passed the Corporate Transparency Act on a bipartisan basis. This law creates a new beneficial ownership information reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures. Many companies are required to report information to FinCEN about the individuals who ultimately own or control them. FinCEN began accepting reports on January 1, 2024.