Step One: Obtaining Your FinCEN Identifier (Number)

Hello there,

First off, I’d like to thank you for trusting me and allowing me to help you with this reporting task. Please read carefully, as I provide a couple of different scenarios that might apply to your business and preferred filing method. 

DISCLAIMER: Even though I have been advised and sent these resources by a professional, this is not legal advice, I highly recommend you check in with your accountant or lawyer, if you have one, to help determine if you have to file. If you don’t have an accountant or lawyer you can look on FinCen website to help you identify if you should: https://www.fincen.gov/boi

The first step in filing your BOI report is to obtain a FinCEN ID:*PLS NOTE: 

You don’t need a FinCEN ID in order to file your BOI, as you can use personal information instead. HOWEVER, If you have multiple businesses or as I learned today, are a part of an HOA, you will need to file an individual BOI report for every business you own or “have control over”, and obtaining an FinCEN number will allow for faster processing of multiple reports, allow you to keep your information private and make it easier to amend previously filed reports (because you are required to update your BOI with in 30 days if your business is sold or who controls your business changes).

So in conclusion, I recommend obtaining a FinCEN ID but feel free to do whatever is best for you. 

If you decide to move forward with obtaining a FinCEN ID, follow the steps below 

• CLICK HERE: Where to obtain a FinCEN ID
  • You will need to create an account, and then follow the prompts to retrieve your individual ID.
  • You will need personal information such as: your legal name, DOB, physical address and upload a digital copy of your DL, passport or local issued ID.
  • Please make sure you save the final confirmation page that includes your FinCEN ID number once assigned, along with your name and date of birth.

A step-by-step guide is linked here.

Once you’ve obtained and downloaded your FenCIN,  follow the instructions in the next email explaining step-by-step instructions on how to file your BOI report. 

Remember the filing deadline is March,21 2025

Step Two: Step-By-Step Self-Filing a Beneficial Ownership Information (BOI) Report

Now, let’s get straight into it! 

By now you should have obtained a FinCEN ID (please reference STEP ONE ABOVE), in effort to avoid over complicating this email, we are going to move forward as if you DO have your FinCIN ID. Please note you will need the FinCINs of every owner or controlling member of your business. Here is a walkthrough video if you didn’t obtain your FinCIN and decided to file for your FinCEN within your BOI report or do not wish to obtain a FinCEN ID and prefer to strictly use your personal information to file:  https://www.youtube.com/watch?v=GydCvfbKxPw

The main factor that will determine how you file your BOIR will be when YOUR BUSINESS WAS FILED WITH THE SECRETARY OF STATE. Before or after 2024?

IF YOU CREATED AND/OR REGISTERED YOUR BUSINESS IN 2024 OR LATER. 

Companies created or registered in 2024 need to report company applicants in addition to beneficial owner information. (this will most likely be you BTW)

If you started your business in 2024 -congratulations! Don’t worry your filing will be just a tad bit different. You’re going to follow the instructions listed below up until step 11. Instead of checking 

[Existing reporting company] you’re going to move forward with filling out [Company Applicant Information] typically this would be you but if you had your tax accountant or lawyer file your company registration and paperwork, for you that’s who’s information you would fill in. 

If you created and registered your business you can simply input your FinCIN number and click [next]

If your accountant or lawyer did it would be wise to ask them for their FinCEN number to avoid having to ask them for their private information and a digital copy of an ID.

PROCEED AND FOLLOW STEP 12-19 listed below.IF YOU FILED YOUR BUSINESS BEFORE 2024, proceed with the STEP BY STEP instructions below:

1. Navigate to the following link: https://www.fincen.gov/boi

2. Select [File report using the BOI E-Filing System]

3. Select [File BOIR] 

4. Select [Prepare & Submit BOIR]

5. Select [a. Initial report] then [Next]

6. Enter the Reporting Company’s legal name (The name of your Entity).

7. Use the dropdown menu to select ID Type (this is the ID type you use for tax reporting purposes).

8. Enter your tax identification number (you will not need to select Country/Jurisdiction unless you selected [Foreign] tax identification type). If selecting [EIN] do not include the dash (-) in the number.

9. Select the Jurisdiction of formation or first registration (this will be the country and state in which your entity was formed).

10. Enter the current address for your entity and select [Next]

11. Check the [Existing reporting company] box since your entity was created or registered before January 1, 2024, then select [Next] (you will be unable to add any more information to this page – this is not an error).

12. Skip the check box regarding if you are a parent or guardian reporting on behalf of a minor. (Skip)

13. Fill out your FinCEN ID Text Box(s) – for each applicable Beneficial Owner. select [Add Beneficial Owner] located at the top right corner. 

14.  Skip the box regarding whether your entity is exempt. Press next. 

15. Here you will add your preferred contact email address and your first and last name. Then select [I agree]

16. Select [I am human] and follow the instructions for completing the security verification

17. Once the security verification is complete the box will be checked and the option to [Submit BOIR] will become available.  Chose [Submit BOIR]

18. You will receive a Submission Status Confirmation with the option to [Download Transcript]

19 Your Beneficial Ownership Information Report filing is complete! Make sure to save in a safe place. You should receive an email 

One thing to keep in mind – if you ever sell or bring on a new owner or controller you need to amend your report within 30 days and that’s where your FinCEN will come in handy. 

Resources: 
https://www.youtube.com/@fincentreasury

Alright, you did it! Congratulations, you can officially check this off your list. Feel free to forward to anyone who would use a step-by-step tutorial! 

As always thank you for allowing me the honor of helping you! Wishing you the best week.

Con Amor,

Jennifer P.