With the enforcement of the Corporate Transparency Act (CTA), many small business owners are asking how to complete BOI filing to remain compliant. This filing is submitted to the Financial Crimes Enforcement Network (FinCEN) to report your business’s Beneficial Ownership Information (BOI).
What You’ll Need Before Filing
Before starting the BOI filing process, gather the following:
- Business details: Legal name, DBA (if any), address, EIN
- Beneficial owners’ info: Full name, date of birth, residential address, ID (e.g., driver’s license or passport)
- Company applicant’s info: Same as above if different from owner
How to Complete BOI Filing Online (Step-by-Step)
1. Visit the FinCEN Filing Portal
Go to: https://boiefiling.fincen.gov
2. Choose “Start a New Filing”
Select the option for either:
- Initial BOI Report (for new companies)
- Updated Report (if any ownership changes occurred)
3. Enter Entity Information
Input your:
- Legal business name
- DBA (if applicable)
- Business address
- Taxpayer Identification Number (EIN or SSN)
4. Add Beneficial Owners
You must disclose anyone who:
- Owns 25% or more of the company, or
- Exercises substantial control over company decisions
Provide:
- Full legal name
- Date of birth
- Residential address
- ID number + upload document (e.g., driver’s license)
5. Add Company Applicant (If Required)
If your business was created after January 1, 2024, you must also report the person who filed the formation documents.
6. Review and Certify
Double-check all details for accuracy, then:
- Certify the information
- Submit the filing
Receive Confirmation
After successful submission, FinCEN will email a filing receipt. Save or print it for your records.
When Is BOI Filing Due?
- New entities (formed in 2024): File within 90 days of formation
- Existing entities (before 2024): Deadline is January 1, 2025
Tips for Easy Filing
- Scan ID documents in clear format
- Use accurate, legal information
- File early to avoid penalties
- Consider using a trusted service like FormLLC.us for assistance
Final Thoughts
Understanding how to complete BOI filing ensures your LLC or corporation stays compliant with FinCEN regulations. While the process is straightforward, it involves sensitive personal and business data—so accuracy is key.
