How to File Your BOI Report Yourself in 5 Minutes

LLCs are required to file a new form for 2024 called the Beneficial Ownership Information ("BOI") Report. If you own an LLC, you are required to file this report unless an exception for filing applies.

Failure to file the report can result in hefty penalties and even criminal charges in some cases. Check out this video to see who needs to file, when you need to file, and how you can file your report online in just a few minutes. I walk you through the process so that after you watch this video, you can file your own report without having to use an accountant or attorney.

⚠️ Exercise caution before using this strategy. Do your own research and make sure you fully understand the risks you are undertaking!

*The information provided in this video is owned by Winsmith Tax LLC and is solely for informational and educational purposes. It is not intended as investment, legal, or financial advice. Always consult with a professional familiar with your unique situation, or conduct your own research before making any decisions. We might receive commissions for recommending certain products or services.*

Video Contents:
00:00 - Intro
00:44 - What is the BOI Report?
01:11 - Which LLCs Require a BOI Report?
01:55 - When Do You Need to File the BOI Report?
02:51 - Where Do You File the BOI Report?
03:16 - Who Needs to File a BOI Report?
03:27 - What is a Beneficial Owner?
03:38 - What Does Substantial Control Mean?
03:51 - What Happens if You Don't File on Time?
04:20 - How to File a BOI Report Yourself
08:35 - Closing Thoughts

[nolo]

My stress level just dropped significantly thanks to you and this!quick tutorial! Thank YOU!!!

[barrywittine]

I would click the "like button" 100 times if I could. I breezed through the filing and shared the video with other business owners. Thank YOU!

[dianneferrans]

SUPER helpful. My accountant wanted $$$ to do this I finished it up in 10 minutes with your video. I just forwarded this to my realtor and she had no idea it was even required.

[CreditLiving]

Thank You, Thank You, Thank You. I have been following your channel for about two weeks now and I’ve been binge watching all of your content. Thank You 🙏🏽

[NoHoBT]

Thank you and I subscribed. Your vids are very helpful.

[TheDanielKahl]

Excellent explanation. Thanks. One question : Can you fill out all the necessary information for two beneficiaries (say, "partners") on just one form? Or do they BOTH have to fill out a separate form each?

[whenwasnow]

Thank you for bring this up! had no idea...

"or if you exercise substantial control over the LLC" as a 2% owner I shouldn't have to file, yet I exert quite some control 🔱 over wife's decisions - or so she says 🤔 I suppose I either must file or be listed?

[aperson]

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