BENEFICIAL OWNERSHIP INFORMATION (BOIR) REPORTING FinCEN
Step by Step Instructions for Businesses Effective Prior to 01/01/2024
STEPS BEFORE MAKING YOUR REPORT:
1. Obtain an EIN with the Internal Revenue Service. If you have not already done so, please visit the IRS’ website to do so at:
https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
2. Make sure you know who your “Beneficial Owners” are – if you are not sure, please read the FAQs on FinCEN’s website: https://www.fincen.gov/boi-faqs#D_1
After reading, if you are still unclear, we can assist you for a fee.
3. Gather your Beneficial Owners’ home addresses, dates of birth, and copies of their drivers’ licenses or passports – REQUIRED for the report!
INSTRUCTIONS TO FILE YOUR REPORT:
A. Visit https://www.fincen.gov/boi
B. Click on File: |File a report using the BOI E-Filing System
C. Click either on “FILE BOIR” or BOI E-Filing “Get Started” (does not matter which one – they both lead to the same page)
D. You can either choose to complete a PDF form by selecting “File PDF BOIR” and then upload once complete, or you can select to “File Online BOIR” (recommended)
Note: The remainder of these instructions are for “File Online BOIR”
Filing Information
Type of filing:
Click (a) Initial Report
Click “Next” on the bottom right to go to the Next Page
Part I. Reporting Company Information
1. Request to receive FinCEN ID (not necessary, but you can select if you would like to have an ID number assigned to your company for future use)
2. Foreign pooled investment vehicle (do not select this unless it applies to you)
Legal Name and alternate names(s)
3. Type in your company’s full legal name
4. If you are using a DBA for your company, type it in here
5. Select the Tax Identification Type for your company (EIN)
6. Type in your EIN
7. If you typed in a foreign EIN, select Country/Jurisdiction
Jurisdiction of formation or first registration
8. a. Select Country of formation
Domestic Reporting Company
b. Select State of Formation
Current U.S. address
9. – 13. Complete all fields for your current principal office address
Click “Next” on the bottom right to go to the Next Page
Part II. Company Applicant Information
14. Existing reporting company (SELECT THIS!)
You do not report Company Applicants – this is only for businesses formed 1/1/24 or later.
Click “Next” on the bottom right to go to the Next Page
Part III. Beneficial Owner Information
If you have more than one (1) Beneficial Owner, please Click on “Add Beneficial Owner” button for as many Beneficial Owners as you have to report. There is no limit on how many you can report, and you MUST report all of them.
Complete the information for each Beneficial Owner as requested (Name, address, date of birth, and upload copy of drivers license or passport)
If a Beneficial Owner has his/her own FinCEN ID number, you may enter it here.
Click “Next” on the bottom right to go to the Next Page
Sign your name and complete the certification
Click “Next” on the bottom right to go to the Next Page and Submit your BOI Report. Their system will then generate your report and will prompt you if there are any errors. If there are no errors, they will accept your submission and give you an opportunity to Download your report. You may then Print – we recommend that you do so and keep for your records.
SHOULD YOU NEED TO MAKE ANY CORRECTIONS OR UPDATE YOUR REPORT WITH ANY CHANGED INFORMATION, YOU MAY DO SO BY FOLLOWING THE SAME PROCESS AND THEN SELECTING EITHER Correct Prior Report or Update Prior Report on the first page.