What happens if an exempt company files a BOI report? Is there a downside? July 18, 2024 02:02 Updated Other than being unnecessary and reducing privacy, there is no real downside. Related to exemptions exempt Related articles Does FinCEN protect my information? Is my BOI report accessible to the public? Who is able to access my BOI reporting information? What is the procedure to correct inaccuracies in a BOI report? Is a correction required? Are FinCEN identifiers obligatory? Should I obtain a FinCEN ID? Can employee counts from related companies and/or control groups be combined to qualify for the large operating company exemption?