How To File The BOI Report For FREE (Step By Step)

[@themack-a-doos1061]

Biggest stress of the year is now completed and gone off my list. Thank you!

[@lisar2135]

Thank you so much for making this video, extremely helpful and concise 😊

[@Genevieve333]

Thank you! I watched this and then filed the form. You took away my fear and made it so easy!

[@jeffreyrh]

So you suggest continuing to submit the BOI report. What about the Alabama Federal District judge that ruled it unconstitutional? Is that still in the works?

[@shalala9871]

I am wondering the same?

[@JamesBakerCPA]

If you are a part of that organization in Alabama you don't have to file it

[@shalala9871]

@@JamesBakerCPA thanks

[@Big_Purr_RT]

⁠@@JamesBakerCPAso James, in your previous video you mentioned that companies established before 2024 you would wait until ruling was more clear. With that being said, what if anything has come of it? And do we need to file this, i was established before 2024 and it’s coming to the said deadline.. didn’t see your update on this topic.

[@BLACKRULERSHIP]

@@JamesBakerCPA WHAT ABOUT SOUTH CAROLINA THEY CAN'T DO THIS TO US TAKING OUR MONEY LIKE THIS

[@geekslabllc]

Hey @James, I ordered a Tello line as you recommended from one of your videos. Then I had it delivered to me in Kenya, then I activated it, ported my SKype line to it, and now I have a real U.S. number not VoIP. Major success! The other is I applied for a Relay account and it was approved, I was given U.S. debit card and now my business transactions are easy to track! I owe you coffee dude!

[@JamesBakerCPA]

Nice!!! Happy to hear this. If you used an affiliate link for tello and relay you are helping me add to my cellphone collection so that's awesome. Would love to get coffee in Kenya tho. Best of luck!

[@ZephyrOfficial]

Hello, I'm struggling and It seems you did everything correctly, can you help me out? What address did you use and what did you use for proof of address? Also can you tell me more about Tello? Thank you very much

[@helendao6755]

You are the man!! Thank you for helping us with this new requirement! I paid someone but had I known how easy this would be to complete I'd have done it myself and saved $350.

[@Jeff-u9j7i]

Thank you for walking through this report. I had a company that has been inactive for years. Do I need submit a report for that old one as well? Their website does not provide a clear yes or no.

[@YourSubconsciousIsSpeaking]

How hard was that !! Simple and concise Every other how to video on this subject is 25min long and includes subject that matter that has Nothing to do with the new BOI. Thank you.

[@JamesBakerCPA]

Thanks for the comment I'm glad it helped!

[@RWalker69]

Thank you for sharing the video. I looked at the pdf explaining this for the state of Georgia it is 57 pages long. I wasn't looking forward to printing it out and trying to figure out its crazy jargon. This was simple!

[@jonathanhenriquez9437]

thank you for your videos i learned a lot from you, wish I would've found your channel before paying someone to open my LLC! but I got it now for my next LLC!!!😎

[@Diesel_Dan_______]

@James Baker CPA Thanks for the how-to video. My LLC has been inactive for 8 years with no ownership or income changes. Do I need to file a BOI report? I read the exempt option and I check all 6 boxes for section 23. Thanks in advance for your time.

[@deborah_ghist]

Thank you for sharing. My husband and I had an apartment that we were renting out on short term but sold it early this year. Do I still need to file this report? We still have the LLC but it will be dissolved after we file taxes for this year.

[@kathiparshall8094]

Thank you soo much. I kept getting emails that I was late filing, but I thought it was spam. I will do mine tomorrow.

[@aperson1181]

What address (LLC address) would you put if you have an LLC but everything is registered to the address of an attorney, so the Sec of State only has this address with banks I usually provide my residential address? Thank you

[@nellielee2915]

Thank you so much 🙏 I will watch it again when I get ready to fill my report out.

[@sripree]

Thank you very much for this wonderful video. I filed my BOI today

[@AberrantArt]

QUESTION: if it's a Holding LLC that doesn't do business and only hold Subsidiary LLC's, and there is no mailing address or physical address, what do we put in the 11.Address field?

[@legacylandwildlife]

Thank you for this video! It was clear and concise and helped me file online very quickly!

[@chrisguli2865]

Great job James! Nice explanation. My registered agent keeps sending me emails to file the BOI for $25 but this is really easy peasy for DIY. It appears there's no new litigation to challenge this right? So it appears filing this is inevitable.

[@samanthacolaresrodrigues7538]

@@chrisguli2865 I’m right there with you.. waiting till mid November but bizee is always reminding me that I have a deadline coming up soon and of course they charge something like $90ish for a simple thing as is the EIN

[@thetackroomtx]

By Far the simplest how to for this. Thank You! I see that on their list of Exemptions # 23 - Inactive entity, does one still need to file and note they are inactive? have not been able to find this information. Thank you again,

[@crfflashforward]

Thanks for the video

[@SheisAp]

Can I use my house address or should I create a virtual address. I’m a notary and work from home.

[@lisar2135]

From what I have been seeing from other videos in the past hour, create a virtual address to put on your LLC so your personal address is protected from the public because if registered with the LLC, you can be easily found via public records. A good site for virtual address is alliance virtual offices. Hope that helps.😊

[@libardobarreto7932]

Can you do also a video if you change your company name but after you file a BOI report. What are the steps?

[@jomission5793]

Question: If an LLC has several owners, do all owners need to file their passports or just 1 person only?

[@iaraprocopio8591]

Hi James, Could you advise us on how to handle the beneficial owners for Company X Inc. and Company X Holdings? Considering that Company X Holdings is the shareholder and Mike Doe is the sole owner, how should we manage this?

[@maxstyne]

Can you post a video on how to get an ITIN?

[@nellielee2915]

Hi thank you taking the time to show us how to file the BIO Report, I file it, but I don't believe I did it correctly because when I got to where it says existing reporting company, because it is an existing company I checked that box, but a small screen popped up saying in so many words like I won't be able to fill in the spaces 🤔and it asked do I want to continue? and when I checked yes, I couldn't type no more to finish answering the questions, plus there were no red indicators no where like they had on the previous form. So I unchecked it and continue filling it out and submitted it. 🥲I downloaded the transcript, what should I do to make sure I don't get no fines?

[@BT4DT]

my company type is S corporations , BOI report is only for LLC company or for S corporations should submit report ? thanks for your video

[@personaltravelandexplorati9627]

What if the owner of LLC passed away and the LLC is shut down in 2024. What is the BOIC filing requirements? I can find no info on this scenario anywhere.

[@jay.rhoden]

Super interesting question. I doubt anyone has thought of this scenario. I assume you cant fine a dead person. I wonder if they could and/or would fine an LLC that has no living members.

[@dross0123]

SMLLC w S-corp tax election. If in a community property state, specifically California, do both spouses need to be added as a beneficiary?

[@MrRoboto2338]

If you use a SSN as a passthrough LLC on tax W9 for 1099 work, is that what you use or the business EIN?

[@arg6193]

I started an LLC as sole proprietor and did not opt for the EIN number as I have no employees. Can I still do BOI Reporting without it? I can use my FL business number.

[@frosty6828]

Hello James, Have you heard any updates on the FinCEN BOI filing mandate? Given the recent election outcome with Trump’s victory, it seems possible that this type of mandated filing might be reconsidered or even abolished.

[@mikegardner2775]

If Your married, do you include your spouse as a beneficial owner?

[@josekoutrolares4666]

Thank you for doing this video

[@innocent575]

Thank you for the video. What about a LLC formed before 2024. The LLC has a Wyoming state entity ID but no EIN yet because the business for the LLC is inactive/not functioning for now. Does it still need to file the BOI initial report and does it fall under L.2 Reporting company Excursion?

[@LulJersey]

Incfile doesn't take foreign order anymore Please can you give the best alternatives? 🙏

[@carletonbass4370]

I am a member of a family LLC. There are four members. We have 25% ownership each. We are spread over two states. One member recently passed away. Her son inherited her share. How do we include everyone? Do we create four different files?

[@rizsyed1814]

I’m in IL and when I follow your steps it’s giving me a filing fee of $349 and option to enter my banking info. I followed all your steps but the last step to “submit BOIR” isn’t there, just the payment option. I filled my LLC last year Nov.

[@RICKYOMEN]

Hey James what about if your company you need to sumbit your BOI is your holdco? Do I need to use my name or can I fill it out as a holdco.

[@blazernation5035]

What is an “identifying document number”? Is that my ID #? Or my EIN#??

[@JayN4GO]

So I chose drivers license. Enter your drivers license number. Passport will be passport number.

[@ericloko702]

Outstanding! Thank you.

[@DoomFinger511]

So easy, my accountant said they work with a law firm that would charge $350 to do this for me. What a rip off.

[@gracie2298]

CPA sends me letter BOI filing must be by 12/2024 or business owner’s could face significant civil penalties up to 10 grand. I sell on eBay occasionally. They are farming the filing out to a Mass. company & stating we Recommend you speak with them if to confirm whether you have to make this filing for your legal entities. Am not an LLC or even have a business name for my flips. Your thoughts please?

[@gianbonme]

Do you recommend getting a FinCEN ID?

[@JamesBakerCPA]

Not if you don't need it

[@dewichintya8116]

Hi James, is there any way to extend the BOI report deadline? I tried to research on google but can't find the way.. My deadline is approaching in 3 days, however I still haven't got my EIN number despite filing it for 4th time already.. I already try to send an inquiry to Fincen through the form in their website last week but I still haven't got their response..

[@ahmadmustafa5794]

My company was registered in may 2024, 90 days passed and i didn't file boi report yet. What should i do now? I'll face a fine now when i filled boi report?

[@jimj6271]

Above it says for your new LLC...from what I understand it's not just LLC's. Also, question 16 - in your example was your corp started after 1/1/2024? If started before that do we check that box? Confusing question? You gave a bad example here, most people will have an existing entity before 2024.

[@premalaschlitt6675]

Thank you, thank you so much, James! New subscriber here!

[@SujanShakya06]

Hello, my business started in 2019 as sole proprietor and this year i changed to llc. Do i file as a existing business? Thanks

[@JayN4GO]

Great question. I’m assuming your LLC name is not exactly the same name as the SP?

[@StephanieButler-y8s]

I created a business in June, I had not idea about this. I will file right way but it's past due. What will happen?

[@JCisSAVIOR]

We existed before January 1 2024 but forgot to check the existing reporting company box. We submitted the report this way. Does this matter?

[@anapaulacarvalho8164]

What about if the llc is owned by another llc? What should I fill as an owner/ beneficiary?

[@Pacheelee]

I opened an llc in 2021 and dissolved it this year but according to the website it’s been closed in 2022x . I never processed with the llc, never got an EIN number. Never really did anything with my business. I see that the EIN is required, what do I put there?

[@joe-mama6451]

I would contend that entities formed pre 2024 would not be “contractually” obligated to comply with this. It almost feels like once you submit then you’re amending the terms of your llc to invite the federal government into the agreement you had with the state. Ex post facto ?

[@wutang976]

Thanks. Very helpful!

[@RSSatcher]

How do you file a BOI for an LLC owned by another LLC when both have the same beneficial owners with equal interests?

[@robdalton5961]

Im waiting for the update on whether we should file or not? 6 months ago, you said wait to see it we need to file or not.. Court case Alabama? Thanks

[@JamesBakerCPA]

There have been no other updates. You should still file it

[@yagamilight64]

James, i opened an LLC recently but still waiting for my EIN. I'm afraid that i won't get my EIN in time before the time window to file for the BOIR report. Can i file it without the EIN?

[@elpablitorodriguezharrera]

Hey James and Team, Can you make a complete step by step process to form an LLC from start to finish including all the necessary things to compliance for non us residents in a single video? It would be helpful for most people. Also, how much it cost total your service is?

[@JamesBakerCPA]

It's too much for a single video but I have done this in the last three or four videos. More to come

[@elpablitorodriguezharrera]

@@JamesBakerCPA yes but I feel like you designed the video for Non-US + US at the same time which is not specific. It'd be helpful if there's one video titled smth like "How to form LLC + EIN + BOI + US Number + US Address + US Bank Account + Stripe + Tax etc. for Non-US Residents from start to finish in 2024" because that's me and I believe most people find from expert like yourself. Thanks.

[@JamesBakerCPA]

Yes I mean I'm doing these but step by step on different videos. That would be a 2 hour video with a bunch of stops and delays.

[@JamesBakerCPA]

I appreciate the feedback. If I can cover a topic and address the NR and Resident viewers and keep the whole video under 10 minutes I try to do that

[@abdulrabb1616]

Thank you very much james ❤

[@lindagreen137]

new subscriber for sure

[@kevinc7439]

What happens if you accidentally do not check "Reporting company is existing before January 2024" do I need to refile or resubmit?

[@anthonyesparsen7776]

What if we are a sole proprietors small business, not an LLC ?

[@SpiritualTemperanceTarot]

What if you opened an EIN years ago and never used it Or registered it. Do you still need to do this form?

[@lakeishar23]

That’s a great question

[@iliaspap88]

Company applicant is the registered agent?

[@jomission5793]

Another question If a LLC is owned by another LLC, how is that handled?

[@Mashburn525]

Dealing with this now. Wondering what kind of documents, I would upload since it won't be a Driver's License. I have an entity that owns 60% of another entity.

[@JamesBakerCPA]

It's about the ultimate owner

[@Mashburn525]

@@JamesBakerCPA so if me and u have a partnership and we own 60% of another LLC I’m uploading mine and your drivers licenses and putting our LLC name down as the entity legal name?

[@yazanaljarrah3505]

Hey . I closed the page by mistake after i filed the boir on my phone and i been looking for a way to get my boir transcript please if you can help me with that

[@KEITHBRINEGAR]

I have a small apartment building , 4 units, do I need to file a BOI?

[@wisediamond830]

Thanks!

[@hakiml5381]

Well done James

[@kimberlywatkins621]

If you had business before how to proceed

[@bway8406]

Do board members of a hoa have to file ?

[@raymondpassero562]

Do Sole Propriotorships have to file a BOI report?

[@gaganbains2254]

I received a 1099-NEC from the states, what do I do with it.

[@Moeali05]

Thank you very much

[@NDCCwithTC]

What if your a small church?

[@steves659]

If we have more than one entity why don't we get a FINCEN Number???

[@littlefinger6840]

I'm from Pakistan, and I set up an LLC for non-residents using Business Rocket. They charged me $103 for the federal BOI report. Can anyone help me with this? Is this the legal fee?

[@chriscallaway4027]

I use my SSN as I am a DBA.

[@StacyBrown2]

Thank you.

[@Jzemb]

what about a LLC I had to reinstate in 2024 but was active since 2021 but soemthing happend and it was shut down

[@modenise]

What if a trust owns the business

[@theamazingadvnturesofboopa8033]

Can I use my business address as my physical address that where I get my business mail at

[@funksterg1625]

What if I opened it in like 2020 but never did anything with it?

[@harrycraviotto2375]

EIN # instead of ss # why can’t I use my SS #

[@maksimapelsin6966]

You rock!

[@LoveGuruBlaire]

so now you're saying to file it?

[@r2aul]

I thought you said you weren't doing this?!

[@jennifertawil2171]

My report failed! The system could not handle the submission!

[@heythemboudraa402]

Thank you very much you came on time and im with your pace from opeing the llc until now but you cheated on me you got the ein fast im a foreign lol

[@JamesBakerCPA]

Lol well you get to have your LLC and pay no taxes so id rather get it slow in exchange for being anonymous

[@AnneDahl-rr6wd]

Merci 🤩

[@LulJersey]

Incfile keeps canceling my llc order 😢

[@carlosjarquin5540]

If you provide all the info they request, you'll be good to go... They just started the process with me after submitting everything they asked (selfie holding my ID, photo of the last 4 digits of the 💳 I used, photo of my bank statement showing that the money has been deducted from my card), I know it's annoying but I got not choice 😅

[@leogarcia7039]

What about a church?

[@sheilamcdonald6631]

Non-profits do not have to file is what I read.

[@Rahinders]

You should update kzbin.info/www/bejne/ZpzHqJl_brqDgM0 to say to file.

[@michaelfriend3990]

A company want me to pay them $295 to file for a HOA.

[@dismahusername8309]

bro I havent done it and it’s been like 100+ days? no penalties or anything

[@jay.rhoden]

The proper answer is probably "talk to a lawyer", the penalties are expensive. I suspect the answer might be "you just gotta do it". I do note that the scary yellow message says "willful non filing" so it comes down to how they decide what is willful or not. Hopefully if someone was genuinely ignorant they accept that. I wonder if anyone has had penalties actually applied for not doing it in time? Does anyone know?

[@JamesBakerCPA]

Probably another thing where they require something and don't enforce it at all. They haven't started enforcing yet but could at any time.

[@chrisguli2865]

@@jay.rhoden From what I read, it's difficult for the IRS to prove "willful failure to file" (in most cases) and I presume it will be the same for Fincen which is also part of the Dept of the Treasury. However, that will not stop them from issuing bills for thousands of dollars. If you're 30-40 days over the time limit, that is $500 per day or $15,000 to $20,000, but I think it is capped at $10,000. Not a lawyer, but jail time is for those who "willfully" fail to file, IMO. Talk to an attorney, and they may tell you to file asap, and hope for the best. Or, they may tell you to dissolve the company (so filing requirement goes away) and then start a new company which resets the clock. I suspect there will be many who aren't even aware they need to do this. Definitely speak to an attorney and CPA asap!

[@JamesBakerCPA]

Until they find these comments and now know that you know lol

[@FakherLLC]

Hi Dear, hope you reply to my comment.

[@FakherLLC]

I have non resident LLC and unfortunately my passport is expired and I'm living in third country where there is no embassy of my country and its gonna take long time for me to update my passport. so please kindly give me some advice how do I file my BOI while I don't have updated passport and the BOI is not accepting other document than passport for foreigner.

[@user-ex9lv7dl5j]

If the company have more than one owner do we file separate for eachone?

[@RoderickDerham]

8061 Reynolds Road