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How to File a BOI Report for Your Family Office in Less Than 10 Minutes: Step-by-Step Guide

Updated: Mar 15

Edit: The BOI is finally no longer required. This article is here for your leisure in case it comes back anytime in the future.


This step-by-step guide is for small business owners who are registered with the secretary of state and have a respective EIN for their business.


Running a business comes with many responsibilities, and filing the BOI Report for your business in less than 10 minutes is one of them. If you’re scratching your head wondering what this is and how to do it, don’t worry!


Picture of How to file BOI Report for Your Family Office

This step-by-step BOI filing guide will walk you through everything in simple steps so you can meet the requirements without ending up in an orange jumpsuit and penalty-free.


Continue to read this guide for details on how to complete a non-negotiable compliance request for your business.


If you want to skip all of this and want to hop straight on a call with a CPA to walk you through it, click here to talk to our Managing Partner!


What is the BOI Report?

 

The BOI Report, short for Beneficial Ownership Information Report, is a document businesses file to report who owns and controls the company.


The report's goal is to help the government combat fraud, tax evasion, and money laundering.

 

Why does it matter?

 

It shows who is really in charge of a company, so businesses can’t hide ownership in shady ways.

 

Who Needs to File a BOI Report?

 

Most businesses in the U.S. must file this report. Here’s who does need to file and who doesn’t:

 

You need to file if:

 

  • You own a corporation, limited liability company (LLC), or similar entity.


  • Your business was formed or registered in the U.S.

 

When is the BOI Report Due?

 

The deadline depends on when your business was formed:


  1. If your business started before January 1, 2024, you have until January 1, 2025, to file.


  2. If your business starts on or after January 1, 2024, you must file within 30 days of registering your business.


Now for what you've been waiting for, below is the easy 3 step process to get your BOI complete in 3 steps in under 15 minutes or less.

 

Four Easy Steps to File Your BOI Report(s)

 

Here’s how you can file your BOI Report in just a few steps:


Family Office Checklist

Step 1. Gather Your Information

 

You’ll need to collect the following:

 

  • Company details: Name, address, and EIN (Employer Identification Number).


  • Owner information: Full name, date of birth, address, and a government-issued ID number (like a driver’s license or passport).

 

Step 2. Create an Account

 

If you’re filing for the first time:

 

  • Click this link to sign up. This step is crucial because it groups all your businesses under one ID. At the end of the process, you’ll get a PDF printout with your FINCEN ID. This will be used for the next step.


  • Click on “Sign in or Create an Account with Login.gov”. Follow all of the instructions and on-screen prompts.


  • Have your driver’s license handy for this step in the process as you'll be required to enter information from it and possibly upload it.

 

Step 3. Complete the BOI Report Form

 

Once FinCen ID has been created from the immediate above step:


  • Click here to electronically “File a BOI Report.”


  • Select “Initial Report,” and the date will automatically be populated.


  • Three parts of the report should take less than 5 minutes to complete

 

  • Part 1 should be about your business. It is super critical that you use a business address instead of a home address when it asks you where your place of business is.


  • For Part 2, do NOT click “Add Company Applicant.” Instead, scroll down and enter your FinCen ID (with the dashes); everything else will populate automatically.


  • For Part 3, it asks who the beneficial owner is. Enter your FinCEN ID again, and everything else will self-populate.

 

Step 4. Review and Submit

 

  • Double-check all the information for accuracy.


  • Finally, enter the email where you want the confirmation of filing to be sent to, then click submit.


  • DOWNLOAD THE TRANSCRIPT and save it for your records!


Overall, this BOI compliance report should take 15 minutes or less from start to finish.

As long as you gather your information and follow the steps above, you’ll stay on the right side of the law.


Remember, you'll need to file


If you would love to talk to one of our CPAs for a strategic business session, you can click here for a 30-minute session!


Disclaimer:


This blog post is for informational purposes only and does not constitute legal, tax, or financial advice. While we strive to provide accurate and up-to-date information, laws and regulations regarding the BOI Report may change over time. Always verify the latest requirements with official sources, such as the Financial Crimes Enforcement Network (FinCEN), or consult with a qualified professional before taking any action. We are not responsible for any errors, omissions, or outcomes resulting from the use of this information.

 
 
 

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