Does a reporting company need to update its BOI report if a beneficial owner or applicant changes their FinCEN identifier information?

No. When information for a FinCEN identifier is updated, the BOI reports where that FinCEN identifier appears are automatically updated. When a reporting company provides an individual’s FinCEN identifier for a company applicant or beneficial owner on its BOI report, the Beneficial Ownership IT system automatically links that BOI report to the information provided by the individual when they obtained the identifier, as well as any updates made by the individual to that information.