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Filing walkthrough

BOI (Beneficial Ownership Information) Filing Walkthrough

The complete step-by-step for filing your FinCEN BOI report — for first-time filers, entity changes, and ongoing compliance.

Best for: Any SMB owner who hasn't filed BOI yet, or who needs to update a prior filing due to ownership/officer changes.

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BOI (Beneficial Ownership Information) Filing Walkthrough — checklist content

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Confirm you must file (4 items)

  • □ Your entity was created by filing with a state Secretary of State (LLC, corporation, LP, etc.).
  • □ You do NOT qualify for one of the 23 exempt categories (large operating company with 20+ U.S. employees AND $5M+ U.S. revenue, public companies, certain regulated entities).
  • □ Single-member LLCs, family LLCs, holding companies — all required unless explicitly exempt.
  • □ Tax-exempt 501(c)(3)s themselves are exempt — but their for-profit subsidiaries are not.

Identify beneficial owners (5 items)

  • □ Owns 25%+ of the entity (direct or indirect) → beneficial owner.
  • □ Exercises substantial control (CEO, CFO, board chair, senior officer, key decision-maker) → beneficial owner.
  • □ Indirect ownership via trusts, holding companies — trace through to the ultimate beneficial individual.
  • □ Spouses with community property interest may need to be listed in community property states.
  • □ Confirm the list of beneficial owners — typically 1–5 individuals for SMBs.

Collect required information (6 items per beneficial owner)

  • □ Full legal name.
  • □ Date of birth.
  • □ Current residential address.
  • □ Government-issued photo ID — passport, U.S. driver's license, or state ID.
  • □ ID document number and issuing jurisdiction.
  • □ Image (PDF or photo) of the ID document for upload.

File via FinCEN BOI E-Filing System (5 steps)

  • □ Visit boiefiling.fincen.gov and select 'File a BOIR'.
  • □ Complete the company information section: legal name, DBAs, U.S. address, tax ID, state of formation.
  • □ Complete beneficial owner section for each beneficial owner (loop through the list).
  • □ Upload ID document images for each beneficial owner.
  • □ Review and submit. Save the confirmation receipt — you'll need it for future amendments.

Ongoing compliance (3 items)

  • □ Any change to beneficial owner info requires an amended filing within 30 days (name change, address change, ID expiration, ownership change).
  • □ Corrections to inaccurate filings — within 30 days of discovering the error.
  • □ Set a quarterly calendar reminder to confirm beneficial owner info is still current.
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© Rubric Financial. Educational use only — not legal or tax advice. Specifics matter; talk to a CPA before acting.

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