How to File BOI: Step-by-Step Guide

By {AUTHOR_COMPLIANCE_NAME}, Tax & Regulatory Compliance Lead

Published May 15, 2026 | Last updated May 15, 2026

Filing a Beneficial Ownership Information report with FinCEN involves six steps: determining your filing obligation, gathering beneficial owner information, accessing the FinCEN E-Filing portal, completing the reporting form, submitting electronically, and retaining records. This guide walks through each step with the specific information required and common mistakes to avoid.

Step 2: Gather Beneficial Owner Information

For each beneficial owner of the reporting company, you must collect the following information before beginning the filing process. Full legal name as it appears on the individual's government-issued photo ID, including first name, middle name or initial if applicable, and last name. Date of birth. Current residential street address, not a business address or PO Box. For beneficial owners residing outside the United States, the residential address in their country of residence is acceptable. A government-issued photo identification number from a non-expired US passport, state-issued driver's license, state-issued identification card, or foreign passport if the individual does not have a US document. You also need a clear, legible image of the identification document. If a beneficial owner has obtained a FinCEN identifier, that 12-digit number can be reported in lieu of the individual's personal information. A beneficial owner is any individual who exercises substantial control over the company or owns or controls at least 25 percent of its ownership interests, as defined in 31 CFR 1010.380(d).

Learn about FinCEN Identifiers →

Step 4: Complete the BOI Reporting Form

The BOI report form has four main sections. The Filing Information section asks whether this is an initial, updated, or corrected report. The Reporting Company section requires the company's legal name, any trade names or DBAs, the current US street address, the state or tribal jurisdiction of formation or registration, the IRS Taxpayer Identification Number (EIN for entities, SSN for single-member LLCs using the owner's SSN), and the type of TIN. The Company Applicant section, required only for entities formed or registered on or after January 1, 2024, requires the same personal information as beneficial owners for up to two individuals: the person who directly filed the formation document and the person primarily responsible for directing the filing if different. The Beneficial Owner section requires the personal information gathered in Step 2 for each beneficial owner. You can add multiple beneficial owners using the form interface. For each beneficial owner, you must upload an image of the government-issued photo ID. Accepted file formats include JPEG and PDF. The image must be clear and legible with all information on the ID visible.

31 CFR 1010.380(b)(1); FinCEN BOI Reporting Form instructions

Step 6: Retain Records and Monitor for Updates

After filing, maintain records of your BOI report and all supporting documentation. While the CTA does not impose a specific record-retention requirement on reporting companies, retaining records is essential for filing updates and corrections and for demonstrating good-faith compliance in the event of an enforcement inquiry. Keep copies of the filed report, the confirmation page with transaction tracking number, all government-issued photo IDs submitted, and any correspondence with FinCEN. Monitor your company for changes that trigger an update obligation under 31 CFR 1010.380(a)(2). These include changes in beneficial ownership such as adding or removing a member, changes in the personal information of any reported beneficial owner such as a new address or new ID document, and changes in the company's reported information such as a new name or address. Updated reports must be filed within 30 calendar days of the change. If you discover that a previously filed report contains inaccurate information, file a corrected report within 90 days to qualify for the safe harbor under 31 CFR 1010.380(a)(4) and avoid penalties.

CSF Managed BOI Filing Service: $150

Cowboy State Filings offers managed BOI filing at $150 per report. The service includes a compliance consultation to determine your filing obligation and identify the correct beneficial owners and company applicants. Our compliance team gathers and verifies all required information, prepares the BOI report, submits it through the FinCEN E-Filing system, and provides the confirmation and transaction tracking number for your records. We retain a copy of the filed report and supporting documentation on your behalf. The managed filing service is available for both initial filings and updated or corrected reports. For multi-member LLCs with complex ownership structures, the service includes coordination with multiple beneficial owners to collect required personal information and ID documents. The $150 fee is per filing, not per beneficial owner. There are no additional charges for entities with multiple beneficial owners. The service is available for foreign reporting companies that are currently obligated to file and for domestic entities that may need to file if the domestic exemption is revised through future FinCEN rulemaking.