This language should be included in the tax return preparation engagement .

If your firm offers BOI reporting, use the following engagement letter language:

The federal government mandates that most organizations that are organized through the Secretary of State’s office (or similar office) or Tribal governments file beneficial owner information (BOI) reports with the Department of the Treasury’s Financial Crimes Engagement Network (FinCEN). The penalties for failure to file BOI reports and update information regarding the organization’s beneficial owners carry significant penalties.

Our firm offers BOI reporting as a separate engagement for an additional fee. We do not perform BOI reporting as part of the income tax preparation process.

If your firm does not offer BOI reporting, use the following engagement letter language:

The federal government mandates that most organizations that are organized through the Secretary of State’s office (or similar office) or Tribal governments file beneficial owner information (BOI) reports with the Department of the Treasury’s Financial Crimes Engagement Network (FinCEN). The penalties for failure to file BOI reports and update information regarding the organization’s beneficial owners carry significant penalties.

Our firm does not offer BOI reporting. Your reporting obligation is your own.