BOI Reporting must be done for any entity that registers with the Secretary of State - most LLCs and corporations will need to file a report. You can review the FinCen FAQ to see if you have a reporting requirement.

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1. If your company was in existence before 1/1/2024, your report is due 1/1/2025.

2. If your company was formed in 2024, your report is due 90 days after formation. 

3. If your company is formed in 2025, your report will be due 30 days after formation.

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Updates to a previous report due ownership changes must be filed within 30 days.

 

Navigating to the BOI Reporting

• Visit https://www.fincen.gov/boi

• Click “File a report using the BOI E-Filing System”

• Click “File BOIR"

• Click “Prepare & Submit BOIR” next to the Web icon

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Filing Information Screen

• Click initial report for all entities reporting for the first time

• Click update prior report if your beneficial ownership has changed from a prior submission

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Reporting Company Screen

• #3 and #4 may remain unchecked

• #5 fill in your company name

• If you use a DBA for your company, fill in the alternative name in #6

• In #7, use your EIN if your business has a federal ID number and use your SSN if your business does not have a federal ID number

• Fill in your EIN or SSN in #8

• #10a: United States of America

• #10b: Pick the state where your business was FORMED. If your business is registered in multiple states, pick the state it was originally formed.

• #11-15 Fill in the address of the LLC/corporation.

• Click “next”

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Company Applicant Screen

• Check box #16 if the company was formed before 1/1/24. If the company is new in 2024, you must fill in #19-33 and upload a copy of your driver’s license or passport.

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Beneficial Owner Screen

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A beneficial owner is an individual who either directly or indirectly: (1) exercises substantial control over the reporting company, or (2) owns or controls at least 25% of the reporting company’s ownership interests https://www.fincen.gov/boi-faqs#D_1

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IMPORTANT: If there are multiple beneficial owners, you will repeat the process for #38-51 for each beneficial owner. Use the “Add Beneficial Owner” button at the top right to add more beneficial owners.

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• Fill in #38-51

• Click “Next”

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Submit Screen

• Fill in email address, confirm email, first name, last name, and check the “I agree” box and click the “I am human” box

• Complete hCaptcha

• Click “Submit BOIR”