eneficial owners, but that may depend on the work being performed.Accountants and lawyers who provide general accounting or legal services are not considered beneficial owners because ordinary, arms-length advisory or other third-party professional services to a reporting company are not considered to be “substantial control” (see Question D.2). In addition, a lawyer or accountant who is designated as an agent of the reporting company may qualify for the “nominee, intermediary, custodian, or agent” exception from the beneficial owner definition.However, an individual who holds the position of general counsel in a reporting company is a “senior officer” of that company and is therefore a beneficial owner.D. 10. Is a reporting company’s designated “partnership representative” or “tax matters partner” a beneficial owner?It depends. A reporting company’s “partnership representative,” as defined in 26 U.S.C. 6223, or “tax matters partner,” as the term was previously defined in now-repealed 26 U.S.C. 6231(a)(7), is not automatically a beneficial owner of the reporting company. However, such an individual may qualify as a beneficial owner of the reporting company if the individual exercises substantial control over the reporting company, or owns or controls at least 25 percent of the company’s ownership interests.Note that a “partnership representative” or “tax matters partner” serving in the role of a designated agent of the reporting company may qualify for the “nominee, intermediary, custodian, or agent” exception from the beneficial owner definition.E. 4. Can a company applicant be removed from a BOI report if the company applicant no longer has a relationship with the reporting company?No. A company applicant may not be removed from a BOI report even if the company applicant no longer has a relationship with the reporting company. A reporting company created on or after January 1, 2024, is required to report company applicant information in its initial BOI report, but is not required to

The statement is signed under penalties of perjury, that the individual signing the statement is duly authorized to make the election and that, to the best of the individual’s knowledge and belief, all of the information contained in the statement is true, correct, and complete. The statement must be dated and signed by the tax matters partner, as defined under IRC §6231(a)(7) prior to amendment by the Bipartisan Budget Act of 2015 and the applicable regulations, or an individual who has the authority to sign the partnership return for the taxable year under examination under IRC §6063, the regulations thereunder, and applicable forms and instructions. The partnership must make this election within 30 days of the date of notification to the partnership, in writing, that a tax return of the partnership for an eligible taxable year has been selected for examination by a notice of selection of examination.An eligible taxable year means any partnership taxable year that begins after November 2, 2015, and before January 1, 2018, with a few exceptions.Those exceptions are: if the tax matters partner has filed an administrative adjustment request under IRC 6227(c) (prior to amendment by the Bipartisan Budget Act of 2015), the partnership is deemed to have filed an administrative adjustment request under IRC §6227(c) (prior to amendment by the Bipartisan Budget Ac