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Learn how to file The BOI Report yourself with this step-by-step guide. No need to pay someone! Follow these easy steps for filing with FinCEN for your LLC.
Hello, digital baddies! Are you ready to tackle something important for your small business without shelling out cash for a service? Today, we’re diving into how to file The BOI Report yourself with FinCEN. This new filing requirement started this year, but don’t worry—it’s totally something you can handle on your own! 🙌
If you’ve ever set up an LLC or got your EIN number, this process will feel familiar. And guess what? You don’t need to pay anyone to do this. Just like those other steps, filing The BOI Report yourself is super easy. Let’s go through this step-by-step guide together. 💪✨
What is The BOI Report?
The Beneficial Ownership Information (BOI) Report is a filing requirement introduced by FinCEN for small businesses. It ensures that the beneficial owners of a company are properly reported. Now, before you think this is complicated, let me assure you, it’s just a matter of entering your company’s info and a few details about yourself. No need to overthink it!
Step 1: Start by Heading to FinCEN’s Website
Hop over to FinCEN’s official website and check for the Boi e-filing system. Since it’s a government website with “gov” and “https” in the URL, you know it’s legit. You’ll be filing your report directly through the government platform, ensuring everything is safe and secure.
Look for the “File a report” option, and here we go!
Step 2: Choose How You Want to File
Once you’re on the Boi e-filing page, you have two options: either download a PDF and fill it out or file The BOI Report online. We’re all about simplicity, so let’s go for the online method!
When you click “Prepare and Submit BOI,” you’ll be taken to the page where the fun begins. 🎉
Step 3: Start Entering Your Information
Now, you’ll need to enter some general details:
- Filing Information – Choose “Initial Report” because it’s your first time filing. If you need to make updates later, you can edit a previous submission, but for now, keep it simple.
- Reporting Company – This section is all about your business. Enter your LLC’s official name, your EIN (employer identification number), and your business address. 💼 If you don’t have an EIN, no worries—head over to IRS website to get one!
- Company Applicant – If you’re doing the filing for your own business, you’ll be the company applicant. Just fill in your personal details here, like your birth date and address.
Step 4: Beneficial Owners Info
You’ll need to list the beneficial owners of your company. Enter their personal information, including identification documents like a driver’s license or passport. Each beneficial owner needs to be added individually, so don’t forget anyone who holds a significant stake in your company!
For each owner, upload their ID as a PNG file and fill in the required fields. Easy peasy, right?
Step 5: Final Review and Submission
Once you’ve completed everything, it’s time to review and submit. Make sure all the details are correct, and when you’re ready, check the little box confirming that you’re authorized to submit the report for your business. 🤓 You’ll get a confirmation receipt that you can download and save.
Yay! You’ve just filed The BOI Report yourself like a pro!
Why You Should File The BOI Report Yourself
Doing this process on your own saves you from paying third parties, and honestly, it’s straightforward. Once you’ve done it the first time, you’ll see how simple it is. Plus, by handling it yourself, you ensure your business’s info stays secure.
I highly recommend you bookmark FinCEN’s site, so you can easily make updates to your report in the future. Remember, you only need to file The BOI Report once unless something changes.
Helpful Resources
- Want to get an learn more about business? Check out my 10K Baddie Digital Product Bundle!
- Still confused? Watch the full video tutorial on YouTube where I go through this step-by-step.
- Visit FinCEN.gov for official resources.
That’s it, digital boss babes! You’ve got this. 💅 Now go ahead and file The BOI Report yourself with confidence. Don’t forget to check out my other videos and tools that can help you keep slaying the business game.
Until next time, 💖 Digifusionlabs from The Business Finance Coach
