Know the difference · 4 minute read
EINs and BOI: two different things
A free IRS tax ID and the current domestic-company BOI exemption, explained without unnecessary upsells.
Reviewed September 7, 2026 · Form Indiana editorial
01An EIN is a federal tax ID
The IRS provides an Employer Identification Number to eligible entities at no charge. You can apply directly. A commercial service’s fee pays for assistance, not for an IRS fee.
02BOI is a separate reporting system
Beneficial ownership information reporting is administered by FinCEN, not by the IRS or Indiana. Under FinCEN’s March 2025 interim final rule, entities created in the United States and their beneficial owners are exempt from BOI reporting.
03Foreign entities need a separate review
The domestic exemption does not mean every business operating in the United States is exempt. Foreign-formed entities registered in the United States may still have obligations. Review current FinCEN guidance for your situation.
04Keep current
This guide was reviewed September 7, 2026. Reporting rules can change. Refer to the official agencies and consult a qualified adviser for your specific business.