You need to communicate BOI changes.
You want stakeholder alignment.
You need clear communication.
You need a strategy.
Stakeholder communication. Alignment. Coordination. Your strategy.
This guide shows you how.
Co-founder communication. Investor communication. Advisor communication. Your alignment.
Read this. Communicate clearly. Align stakeholders.
Key Takeaways
- Explain BOI requirements clearly—provide stakeholders with a clear explanation of what BOI is and why it matters
- Assign responsibilities—clarify who is responsible for BOI filing, updates, and compliance monitoring
- Set expectations—communicate deadlines, update requirements, and ongoing compliance obligations
- Provide resources—share relevant guides, checklists, and professional contacts to help stakeholders understand
- Establish communication channels—create clear channels for BOI-related questions, updates, and coordination
Table of Contents
Why Communication Matters
Communication enables alignment.
What happens without communication:
- Stakeholders are unaware
- Responsibilities are unclear
- Compliance fails
- Relationships suffer
What happens with communication:
- Stakeholders are informed
- Responsibilities are clear
- Compliance is maintained
- Relationships are strengthened
The reality: Communication enables success.
Co-Founder Communication
Communicate with co-founders:
Initial Communication
What to communicate:
- What BOI is
- Why it matters
- Who must file
- When to file
Why it matters: Initial communication sets foundation.
Responsibility Discussion
What to discuss:
- Who will handle filing
- Who will track deadlines
- Who will manage updates
- Who will review compliance
Why it matters: Responsibility discussion ensures coverage.
Ongoing Updates
What to update:
- Filing status
- Update requirements
- Compliance status
- Change events
Why it matters: Ongoing updates maintain alignment.
Pro tip: Communicate with co-founders. Initial communication, responsibility discussion, ongoing updates. See our BOI governance guide for responsibility management.
Investor Communication
Communicate with investors:
BOI Overview
What to share:
- What BOI is
- Why it’s required
- How it affects the company
- What information is needed
Why it matters: Overview provides context.
Information Requirements
What to request:
- Beneficial owner information
- Ownership percentages
- Control arrangements
- Supporting documentation
Why it matters: Information enables filing.
Compliance Assurance
What to assure:
- Filing will be completed on time
- Updates will be filed promptly
- Compliance will be maintained
- Professional guidance is being sought
Why it matters: Assurance builds confidence.
Pro tip: Communicate with investors. BOI overview, information requirements, compliance assurance. See our BOI guide for filing requirements.
Advisor Communication
Communicate with advisors:
BOI Consultation
What to consult:
- Filing requirements
- Eligibility determination
- Update obligations
- Compliance best practices
Why it matters: Consultation ensures accuracy.
Professional Guidance
What to seek:
- Legal advice
- Compliance guidance
- Filing assistance
- Risk assessment
Why it matters: Professional guidance reduces risk.
Ongoing Support
What to request:
- Filing review
- Update management
- Compliance monitoring
- Issue resolution
Why it matters: Ongoing support maintains compliance.
Pro tip: Communicate with advisors. BOI consultation, professional guidance, ongoing support. See our legal checklist guide for attorney questions.
Communication Timing
Time your communications:
Early Communication
When to communicate:
- Before filing deadline
- When requirements change
- When ownership changes
- When issues arise
Why it matters: Early communication prevents problems.
Regular Updates
When to update:
- Quarterly compliance reviews
- Annual assessments
- After filing updates
- When status changes
Why it matters: Regular updates maintain alignment.
Urgent Communication
When to communicate urgently:
- Missed deadlines
- Filing errors
- Compliance issues
- Penalty risks
Why it matters: Urgent communication prevents escalation.
Pro tip: Time communications. Early communication, regular updates, urgent communication. See our BOI timeline guide for deadline tracking.
Communication Channels
Establish communication channels:
Formal Channels
What to use:
- Board meetings
- Compliance reports
- Written updates
- Official notifications
Why it matters: Formal channels ensure documentation.
Informal Channels
What to use:
- Team meetings
- Email updates
- Slack channels
- Quick check-ins
Why it matters: Informal channels enable quick communication.
Documentation
What to document:
- Communications sent
- Responses received
- Decisions made
- Actions taken
Why it matters: Documentation provides record.
Pro tip: Establish channels. Formal channels, informal channels, documentation. See our BOI routine guide for communication workflows.
Your Next Steps
Communicate clearly. Align stakeholders. Maintain compliance.
This Week:
- Review this guide
- Identify all stakeholders
- Prepare communication materials
- Schedule stakeholder meetings
This Month:
- Communicate with co-founders
- Communicate with investors
- Communicate with advisors
- Establish communication channels
Going Forward:
- Maintain regular communication
- Update stakeholders promptly
- Document communications
- Align on compliance
Need help? Check out our BOI filing guide for filing requirements, our 2024 BOI rule guide for rule changes, our BOI governance guide for responsibility management, and our registered agent guide for business address setup.
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FAQs - Frequently Asked Questions About Communicating BOI Changes to Co-Founders, Investors, and Advisors
What key information should co-founders receive about BOI compliance?
Co-founders need to understand what BOI is, who must file, filing deadlines, who is responsible for each compliance task, and what ongoing update obligations exist.
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Start with the basics: what Beneficial Ownership Information reporting is and why the government requires it. Then clarify who qualifies as a beneficial owner in your company. Discuss the filing deadline and penalties for non-compliance—up to $500 per day. Most importantly, have a responsibility discussion: who will handle the initial filing, who tracks deadlines, who manages updates when ownership changes occur, and who reviews compliance status regularly. Establish ongoing update protocols so every co-founder knows to report changes in their personal information or ownership percentages promptly.
What beneficial ownership information do you need to collect from investors?
You need each qualifying investor's full legal name, date of birth, residential address, and an identifying document number (passport or driver's license) with an image of that document.
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Any investor who owns 25% or more of the company or exercises substantial control qualifies as a beneficial owner under BOI rules. For each qualifying investor, you must collect their full legal name, date of birth, current residential address, and a unique identifying number from a passport, state ID, or driver's license, along with an image of that document. Communicate this requirement clearly and professionally, explaining why the information is needed, how it will be used, that it's required by federal law, and that non-compliance carries significant penalties. Provide investors with a secure method to submit sensitive personal data.
How should you communicate BOI requirements to investors without alarming them?
Frame BOI as a standard federal compliance requirement, provide context about the Corporate Transparency Act, assure them you're handling it properly, and show professionalism.
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Present BOI filing as what it is—a new federal requirement under the Corporate Transparency Act that applies to most companies, not something specific to your business. Provide a brief overview of the requirement, explain what information you need and why, and assure investors that you're handling compliance properly with professional guidance. Demonstrate that you have a plan: filing will be completed on time, updates will be filed when ownership changes occur, and compliance will be maintained going forward. This builds confidence rather than concern.
When should you communicate BOI changes to stakeholders?
Communicate before filing deadlines, when ownership or control changes occur, when rules change, and through regular quarterly compliance reviews.
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Timing matters for BOI communications. Initial communication should happen well before your first filing deadline so everyone has time to provide required information. After that, communicate whenever a triggering event occurs—ownership changes, new investors, changes in who exercises substantial control, or changes to a beneficial owner's personal information. Regular quarterly compliance reviews keep everyone aligned and catch potential update requirements early. Urgent communications should go out immediately if you discover a missed deadline, a filing error, or a compliance gap that creates penalty risk.
What communication channels work best for BOI-related stakeholder coordination?
Use formal channels like board meetings and written reports for official decisions, and informal channels like email and Slack for day-to-day coordination.
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Match your communication channel to the importance and audience. Board meetings and formal compliance reports are appropriate for initial BOI discussions, responsibility assignments, and major compliance decisions—these need to be documented in meeting minutes. Day-to-day coordination, like requesting updated information from a beneficial owner or confirming a filing was submitted, works well through email or team messaging tools. The critical requirement is documentation: keep records of all BOI-related communications sent, responses received, decisions made, and actions taken. This paper trail protects the company if compliance is ever questioned.
How do you assign and document BOI compliance responsibilities across your team?
Designate one person as the BOI compliance owner, clearly document who handles filing, deadline tracking, updates, and review, then communicate these assignments to all stakeholders.
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Ambiguous responsibility is the top reason BOI compliance falls through the cracks. Designate a single compliance owner—typically a founder, CFO, or operations lead—who is accountable for the overall BOI program. Then assign specific tasks: who prepares and submits the initial filing, who monitors deadlines and sets reminders, who manages update filings when changes occur, and who conducts regular compliance reviews. Document these assignments in writing, communicate them to all co-founders, and include them in your governance documents. For professional guidance, engage your attorney or CPA to review filings and advise on complex ownership situations.
Sources & Additional Information
This guide provides general information about communicating BOI changes to stakeholders. Your specific situation may require different considerations.
For BOI filing, see our BOI Filing Guide.
For 2024 BOI rule, see our 2024 BOI Rule Guide.
For BOI governance, see our BOI Governance Guide.
For registered agent services, see our Registered Agent Guide.
Consult with professionals for advice specific to your situation.
