How to File BENEFICIAL OWNERSHIP REPORT | Step-By-Step

Click here to watch my Youtube video (How to File Beneficial Ownership Report | Step by Step)

Important Reminder for Business Owners The deadline for filing the Beneficial Ownership Information Report is coming up fast! If you own a business, this filing is mandatory under new federal regulations. It only takes 5 minutes to complete, and I’ve created a step-by-step video to guide you through the process. Don’t risk penalties—check if your business needs to file and get it done quickly!

✅ Key Deadlines:

Business Created Before Jan 1, 2024: File by Jan 1, 2025.

Business Created/Registered in 2024: 90 days to file.

Business Created/Registered after Jan 1, 2025: 30 days to file.

Feel free to ask questions in the comments or share this with other business owners who might need to know. Let’s make sure everyone stays compliant!

It doesn’t matter if you are a candle maker or a dog walker you need to file your Beneficial Ownership Information Report (BOIR) before the end of the year. Today, I’ll walk you through the process of filing your Beneficial Ownership Report (BOR) to keep your business compliant and avoid those unbelievably expensive fines. For your information, most tax preparers charge $100-$300 for this service, but you can do it yourself quickly and for free.

Let’s get started!

Step 1: Access the BOIR Form

• Visit the Website
  Go to www.fincen.gov/boi. This is where you’ll find the BOIR form to fill out online. The website has everything you need, so let’s dive in!

• Click ‘File a Report’
  On the homepage, select “File a report using the BOI E-filing system” to access the form.

Step 2: Navigate the BOIR System

• Find the Right Section
  Ignore the Bank Secrecy Act Reporting section and go directly to the Beneficial Ownership Information Reporting section. Click Get started.

• Choose the Online Form
  The next page gives you two options:

  • Download the form, fill it out by hand, and re-upload it (not recommended)
  • Fill it out online – much simpler! Click Prepare and submit BOIR.

Step 3: Accept the Terms

1. Read and Accept the Warning
   You’ll see a pop-up warning about government monitoring. Click I agree to proceed.

Step 4: Start Filling Out the Form

Section 1: Filing Information

1. Select the Type of Filing

   • A. Initial Report if it’s your first time filing.
   • B. Correction if you need to fix something in a previous report.
   • C. Update if you’re updating information.
   • D. Exemption if you recently became exempt.

2. Auto-filled Date
   The date will be filled in automatically.

Step 5: Add Your Company Information

Section 2: Reporting Company Information

1. Request a FinCEN ID
   Most first-timers won’t have one yet, so check this box to request it.

2. Add Your Legal Business Name
   Enter your business name as it appears legally. For example, if it’s UP Vibe LLC, enter it here.

3. Enter Your Business Details

   • Business name
   • DBA (if you operate under a different name)
   • Identification Type (EIN, SSN/ITIN, or Foreign Tax ID)
   • Business address, including street, city, state, and zip code

Step 6: Declare Your Business Status

Section 3: Business Establishment Date

1. Check if Your Business Was Established Before 2024
   If your business was formed before January 1, 2024, check the box. This will disable some fields to make the form quicker to fill out.

Step 7: Fill Out Personal Information

Section 4: Beneficial Owner Information

1. Enter Your Personal Info
   This section asks for your first and last name, date of birth, and residential address. If your business and home address are the same, you can duplicate it here.

2. FinCEN ID
   If you checked the box earlier to request a FinCEN ID, leave this section blank.

Step 8: Final Review and Submission

1. • Review Your Details
     Double-check all your information to ensure accuracy.

   • Submit the Form
     Once everything is correct, submit the form electronically, and you’re all set!

Wrapping Up

And that’s it! You’ve just filed your Beneficial Ownership Report on your own and saved yourself up to $300. Just remember, this report is a must for most business owners, so staying on top of it keeps you compliant and avoids those hefty fines.

If you’re still unsure or want a detailed walkthrough, check out my video here where I guide you through each step visually. It’ll make the process even easier, and you’ll be filing like a pro in no time!

Let’s Go!