Beneficial Ownership Information (BOI) reporting is essential for small business compliance in the U.S. If you’ve been wondering how to file a BOI report yourself or outsource, this guide walks you through everything you need to know.

Watch Video Guide

It includes practical steps and important tips for filing directly through the official FinCEN.gov portal.

Why BOI Reporting Matters for Small Businesses

BOI reporting ensures transparency by disclosing the individuals who have significant ownership or control over a business. This information helps combat financial crimes such as money laundering and fraud.

As a business owner, understanding how to file BOI reports can save you time, money, and compliance risks.

Key Requirements and Deadlines for BOI Filing

Who Needs to File?

All businesses formed or registered in the U.S., except exempt entities like certain regulated financial institutions and large operating companies.

When to File?

• Businesses formed before January 1, 2024: File by January 1, 2025.
• Businesses formed on or after January 1, 2024: File within 30 days of registration.

What Information Is Required?

• Company Details: Legal name, EIN or Tax ID, and current U.S. address.
• Beneficial Owners: Full name, date of birth, residential address, and a valid identification document (e.g., passport or driver’s license).

To file your BOI report, visit the official FinCEN.gov website. Avoid searching for “BOI filing” on search engines, as many paid services may appear.

Filing directly through the government portal is free.

Step-by-Step Guide to Filing BOI Reports

Visit the BOI Filing Page:
Go to fincen.gov/BOI and click “File a Report.”

Choose the Filing Type:

• Initial Report (for new businesses).
• Correct or Update Report (if ownership details change).

Enter Business Information:

• Legal name (as per your Secretary of State registration).
• EIN or Tax ID (if applicable).
• U.S. Business Address.

Add Beneficial Owners:

• Provide personal information for each owner with 25% or more ownership.
• Upload identification documents as required.

Confirm and Submit:
Review all details carefully. Click “Submit” to complete the filing process.

Filing Considerations for New and Existing Businesses

• New Businesses (After January 1, 2024): Must file within 30 days of registration.
• Existing Businesses (Before January 1, 2024): Must file by January 1, 2025. No need to report company applicants.

Key Takeaways

• Filing BOI reports ensures compliance and prevents penalties.
• Use the official FinCEN.gov portal for a secure, free, and straightforward filing process.
• Keep your business information updated — file new reports if ownership changes.

Watch the above video tutorial to confidently manage your BOI reporting without the need for expensive third-party services.

Stay compliant and secure your business’s future with ease!