Filing a BOIR report requires gathering specific information about your company and its beneficial owners, then submitting through FinCEN’s electronic system. This guide walks you through the entire process from preparation to confirmation.
Before You Start: Gather Required Information
Collecting the necessary information before starting your filing saves time and prevents errors.
Company Information Needed
| Information | Where to Find It |
|---|---|
| Legal company name | Formation documents |
| Any trade names/DBAs | State filings or local registrations |
| Principal business address | Your primary office location |
| State of formation | Formation documents |
| Formation date | State filing confirmation |
| EIN (or foreign TIN) | IRS confirmation letter (CP 575) |
Beneficial Owner Information Needed
For each beneficial owner, gather:
| Information | Requirements |
|---|---|
| Full legal name | First, middle, last as on ID |
| Date of birth | Month, day, year |
| Current residential address | Home address, not business |
| Government-issued ID | Driver’s license, passport, or state ID |
| ID number | Number from identification document |
| ID image | Clear copy (photo/scan) of ID |
Acceptable identification documents:
- State driver’s license
- State-issued identification card
- U.S. passport
- Foreign passport (if no U.S. documents available)
Company Applicant Information (If Required)
Companies formed on or after January 1, 2024 must also report company applicants—the individuals who filed the formation documents.
Company applicants include:
- The person who directly filed formation documents
- The person primarily responsible for directing the filing
You need the same information for company applicants as for beneficial owners.
Step 1: Access the FinCEN Filing System
BOIR reports are filed through FinCEN’s BOI E-Filing system.
URL: https://boiefiling.fincen.gov
What you’ll see:
- Option to file new report
- Option to access existing filings
- Help resources
No account required: You can file without creating an account, though creating one helps manage multiple filings.
Step 2: Select Filing Type
Choose the appropriate filing type:
| Option | When to Use |
|---|---|
| Initial Report | First-time filing for this company |
| Updated Report | Information has changed since initial filing |
| Corrected Report | Fixing errors in a previous filing |
For your first filing, select “Initial Report.”
Step 3: Enter Company Information
Complete all required fields about your company.
Legal Name and Trade Names
Enter your company’s legal name exactly as it appears on formation documents. Add any DBAs or trade names used.
Example:
- Legal name: ABC Holdings, LLC
- Trade name: ABC Services
Business Address
Enter the principal place of business—the primary location where business is conducted.
For home-based businesses: Use your home address if that’s where you primarily conduct business.
Don’t use:
- Registered agent addresses
- Virtual office addresses
- P.O. boxes
Jurisdiction and Formation Date
Select the state where your company was formed and enter the formation date from your state filing confirmation.
Tax Identification Number
Enter your company’s EIN. If you don’t have an EIN, you can use a foreign tax identification number or indicate that you’re using another identifier.
Most businesses need an EIN: If you have an LLC or corporation, you likely have (or should have) an EIN.
Step 4: Identify Beneficial Owners
List every individual who qualifies as a beneficial owner.
Who to Include
Include anyone who:
- Owns or controls 25% or more of the company
- Exercises substantial control over the company
Substantial control includes:
- Senior officers (CEO, CFO, COO, President, General Counsel)
- Authority to appoint or remove officers or directors
- Important decision-making authority
- Any other form of substantial control
Enter Information for Each Owner
For each beneficial owner, enter:
- Full legal name – Exactly as shown on their ID
- Date of birth – Month, day, year format
- Residential address – Current home address (not business address)
- Identification document type – Select from dropdown
- ID number – The number on the document
- ID issuing jurisdiction – State or country that issued the ID
- ID image – Upload clear copy of the document
FinCEN Identifier Option
Beneficial owners can obtain a FinCEN Identifier (FinCEN ID)—a unique number that can be used instead of providing personal information on each filing.
Benefits of FinCEN ID:
- Privacy: Company filing shows only the FinCEN ID
- Convenience: Owners in multiple companies provide ID once
- Updates: Owner updates their own information directly
To get a FinCEN ID, individuals apply separately at boiefiling.fincen.gov.
Step 5: Identify Company Applicants (If Required)
For companies formed January 1, 2024 or later, identify company applicants.
Who to Include
Direct filer: The individual who actually submitted formation documents to the state.
Responsible party: The individual primarily responsible for directing or controlling the filing (if different from direct filer).
Common scenarios:
- Owner files themselves: One company applicant (the owner)
- Attorney files for client: Two applicants (attorney who filed + owner who directed)
- Formation service used: The service employee who filed + the business owner
Enter the same information types as for beneficial owners.
Step 6: Review Your Filing
Before submitting, review all information carefully.
Check for:
- Spelling matches ID documents exactly
- Addresses are current and complete
- ID images are clear and readable
- All beneficial owners are included
- All required fields are completed
Common errors:
- Name doesn’t match ID (using nickname instead of legal name)
- Wrong address type (business instead of residential)
- Missing beneficial owners (forgetting about investors or partners)
- Unclear ID images
Step 7: Submit and Confirm
Once reviewed, submit your filing.
What happens:
- System validates the filing
- If successful, you receive a confirmation
- Transcript is available for download
Save your confirmation: Keep the filing confirmation and transcript for your records. You may need them for updates or to prove compliance.
Step 8: Maintain Your Filing
BOIR is an ongoing obligation. Set up systems to track changes.
Monitor for Changes
Track any changes to:
- Beneficial owner information (address, name, ID)
- Ownership percentages
- Individuals with substantial control
File Updates Within 30 Days
When information changes, file an updated report within 30 days.
Common update triggers:
- New owner joins
- Owner sells their interest
- Owner moves to new address
- New CEO or officer appointed
- Owner renews driver’s license (new ID number)
Filing Fees
Direct filing with FinCEN: FREE
There’s no fee to file BOIR directly with FinCEN.
Professional filing services: $50-$200 typically
Many businesses choose professional services for convenience and accuracy assurance.
Common Filing Mistakes to Avoid
1. Wrong Address Type
Use residential addresses for beneficial owners, not business addresses.
2. Missing Beneficial Owners
Don’t forget minority owners with 25%+ stakes or individuals with substantial control even without ownership.
3. Poor ID Images
Ensure uploaded ID images are:
- Clear and readable
- Complete (all corners visible)
- Not expired
4. Waiting Until the Deadline
File early to allow time to fix problems. Last-minute filings risk missing deadlines if issues arise.
5. Forgetting Company Applicants
Companies formed in 2024 or later must include company applicant information. Don’t overlook this requirement.
Get Professional Filing Help
While BOIR filing is free, the process involves multiple steps and strict accuracy requirements. Critical Compliance Services handles the entire process for Florida businesses.
Our service includes:
- Information gathering assistance
- Filing completion
- Submission confirmation
- Update reminders
Frequently Asked Questions
How long does filing take?
If you have all information ready, the actual filing takes 15-30 minutes. Gathering information beforehand may take longer.
Can I save and finish later?
The FinCEN system allows saving progress if you create an account. Without an account, complete the filing in one session.
What if I make a mistake?
File a corrected report as soon as you discover an error. Good faith corrections within 90 days are protected from penalties.
Do I get confirmation?
Yes. FinCEN provides a filing confirmation and transcript after successful submission. Save these documents.
Can someone else file for me?
Yes. Attorneys, accountants, or compliance services can file on your behalf. You’re still responsible for the information’s accuracy.