If my legal entity only passively holds property - and is otherwise inactive - do I need to file BOI? October 29, 2024 22:42 Updated While truly inactive entities are exempt from BOI reporting, passively holding assets counts as business activity. Related to exempt exemption Related articles Compliance Quiz - How do we determine if we are exempt from filing a BOI report? What are Promo Codes and how do they work? Can we apply different fees for different clients? How do we set up discounts?