Step 1: Gather Information
Collect the following details about each beneficial owner of your company:
- Full legal name
- Date of birth
- Complete residential address
- Unique identification number (e.g., passport number, driver’s license, or other government-issued ID number)
- Scanned copy or photo of the selected ID
- The percentage of ownership or control that the individual has in the company.
For the company:
- Legal name of the company and DBA (if any)
- Business address
- State of formation
- Taxpayer Identification Number (TIN) or Employer Identification Number (EIN)
Step 2: File the BOIR Report
Go to the FinCEN BOI E-Filing website: https://boiefiling.fincen.gov/ and select the pdf or online filing option.
- Report Company Information
- If the entity owns an interest in other entities, select an option to receive a FinCEN ID for the reporting entity.
- Identify Beneficial Owners
- Beneficial owners who applied for FinCEN ID numbers can submit their ID numbers instead of providing full personal details.
- Identify Company Applicant (this requirement applies only to entities formed in 2024).
- List individuals who were directly involved in filing the company’s registration. Maximum two applicants can be listed, for example, the actual filer (e.g., company’s employee, paralegal) and the person who directed the registration filing (e.g., business owner, attorney).
• Submit/Receive Confirmation
- After submission, you will receive a confirmation message and a filing receipt number. Download and save a copy of the confirmation page for your records.
Important Note on Updating Your Filing
If any of the information in the BOI report changes (e.g., due to changes in entity’s jurisdiction, ownership, or changes in personal data of beneficial owners*), the reporting company must file an updated report with FinCEN within 30 days of any change in the information submitted in their initial report.
*This requirement can be avoided if the beneficial owner’s FinCEN ID number was provided in the initial report. Individuals who applied for a FinCEN ID must report any change in the information submitted within 30 days of the change.
Resources from FinCEN:
BOI Toolkit https://fincen.gov/boi/toolkit
BOI Reference materials https://fincen.gov/boi/Reference-materials
Small Entity Compliance Guide https://www.fincen.gov/boi/small-entity-compliance-guide
