Beneficial Ownership Information (BOI) Reporting

[Lisa T.]

It seems like the government website for the BOI is pretty straightforward. We've followed the advice over the years to have many LLCs registered in the state where the property is located and then just have a couple of properties in that LLC, depending on the property values. All those "little" LLCs are owned by a Wyoming LLC. As a result, we have a lot of LLCs and under BOI, a lot of initial paperwork to be filed. We have used Corporate Direct to maintain our LLCs for the last couple of years. They are wanting to charge us $250 per LLC to do the initial BOI applications. It would be one thing if it was one and done; however, I have to gather all the information and put it all on a spreadsheet, and send to them so I'm doing the work anyway. I could sit down on a quiet Saturday morning and cut/paste from my Excel spreadsheet into the online forms and file it all myself and save $8,000.

For those of you in the know, is there anything I'm missing -- is it really that straightforward?