How To File The BOI Report With FINCEN Correctly!

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If you are required to report your company's beneficial ownership information to FinCEN, you will do so electronically through a secure filing system available via FinCEN's BOI E-Filing website. I'll take you through every step, so you know what to do. It only takes a few minutes and can save you $500 a day in fines, so let's do it!
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Check out James’ top recommended videos here - these are cornerstone videos that should answer many of your questions.
-----Longer videos that explain it all!
How to Legally Pay NO US Taxes - • IRS Secrets: How to LE...
How to Legally Pay NO US Taxes (part 2) - • Are you a Non Resident...
-----Guides and How tos
Annual reporting for a foreign owned multi member LLC (Masterguide) - • Tax Laws for Foreign-O...
What is Form W-BEN and why do I need it • How to Fill Out W-8BEN...
Which payments from US Companies are subject to withholding? • Which US Payments are ...
How to complete Form W-8BEN - • 🧾🔍 HOW TO complete Fo...
How to complete Form W-8BEN-E - • How to Complete Form W...
How to get an ITIN - • Get A ITIN Number - W-...
-----And don’t forget to check out all of the “CALLS WITH JIM”
• Calls with Jim
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Do you want to learn how to open and operate a Tax Free Company in the USA even if you live outside the US and don’t have a visa.
Click here - www.jamesbaker...
Already have an LLC? Did you already complete form 5472 for your company? Did you know there is a $25,000 penalty for not doing this form? I’ve made a short training that explains exactly what you need to do and why so you can get this done quickly and correctly, the first time around.
Click here - www.jamesbaker...
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Looking for help with your SALES TAXES? Check out a couple of our videos on the topic -
What are sales taxes? • Do I pay Sales Taxes o...
What is a resale Certificate and Why do you Need it - • What is a Resale Certi...
How to get a Florida Resale Certificate, Part 1 - • 📝💼How to get FLORIDA R...
How to get a Florida Resale Certificate, Part 2 - • Get Your Florida Resal...
How to file a DR-15 Florida Sales and Use Tax with 0 Sales - • Florida Sales Tax Fili...
I get asked what company I recommend to help with sales taxes and every time I mention Tax Jar. Once set up, tax jar can complete all of your monthly sales tax filings automatically. If you are looking to solve this problem forever, click this link to find out more about what they can do for you. taxjar.grsm.io...
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Lawyer Disclaimer (Occupational Hazard): This is not legal advice. Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney for advice regarding any particular issue or problem.

Опубликовано:

26 сен 2024

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Комментарии : 407

@midtownguitars 8 месяцев назад

This video saved me $200. As a new business owner I had no idea I had to do these kinds of things, it's very overwhelming. Thank you for making this video so easily accessible and understanding how things work.

@midtownguitars 8 месяцев назад

So if I have more than one owner of my company would I have to submit all the details of both owners or would one be enough?

@nawidsulaimankhil8399 8 месяцев назад

I am still confuse as I want to file non us resident llc this feb. on my us corporation demand 400$ extra to keep agent and to file this. which i dont even know if i will ever need them or not

@JamesBakerCPA 7 месяцев назад

Hi! Follow the link in bio or find me at www.jamesbakercpa.com/ for a free consultation! 😁

@lauraclark3941 5 месяцев назад

@@midtownguitars All owners with at least 25% ownership must file.

@Electriciantechs 23 дня назад

20$

@cinthiasilva6334 5 месяцев назад

Thank you so much for this video. It was explained very well! My CPA was charging me $350 and told me it was very difficult to do! I can't believe how easy it is and how she made me feel like I was too stupid to understand how to do this! I'm glad for people like you here on youtube. Thanks again.

@JamesBakerCPA 5 месяцев назад

Thanks for watching and commenting I'm happy it helped

@nelzonruiz2674 4 месяца назад

Time to change your CPA lol

@handsvsfood2781 3 месяца назад

Get a new CPA

@bigsamuil 2 месяца назад

That’s what they do they make u feel to rely on them but James is da G-d

@jayc4019 20 дней назад

Why do we all just allow the government to keep doing things like this? Just keep ADDING AND ADDING to the already incredibly challenging process of starting a business. The government do not want you to start a business. They want us all working wage jobs forever. We should have rejected this as a people.

@CaptainRevs 14 дней назад

I have 5 LLC's - you just saved me $1,250. Thanks! Subscribed.

@ruannlarson 5 месяцев назад

THANK YOU!!!! Our CPA gave us the "letter" about this that was 4 pages long and included a healthy fee. You just saved me a BUNCH of money! Thanks.

@JamesBakerCPA 5 месяцев назад

Perfect! I don't charge for this I do it for clients or send them this link lol. Thanks for the comment

@garymahon7694 Месяц назад

2009 fairington spoof 3:42

@garymahon7694 Месяц назад

2009 fairington spoof 3:42

@garymahon7694 Месяц назад

2009 fairington spoof 3:42

@garymahon7694 Месяц назад

Now

@geo100x 3 месяца назад

Why I didn’t see this video before? I had to pay $200 dollars today to my CPA! 😢 I didn’t know that was very simple to do it ! Thanks for the video .

@merchandisingparadise9440 3 месяца назад

Next time before you pay your CPA for anything, check James Baker or youtube on how to fill any report.

@JamesMIrby 6 дней назад

If u don't want to pay your cpa do it yourself. You have no idea the cost and time required to be a cpa. So do it yourself. Cpas only have TIME to sale. What do u sale! I have to pay a shoe up fee of $100 for an electrician to come to my house. That's added to the cost of his services once he works. Same goes for mechanics as well as dentist and doctors. You should advertise that you can do it for anyone for as little asc$10

@Dieselknightrepairs 7 месяцев назад

I freaked out cause i heard about this form and the $500 a day penalty. I had not filed it and I filled it out and submitted today with the help of your video and then i got to the end with it saying I had until the end of the year and the stress went away. Thanks for saving me $100 back to building my business

@LostAndFoundSoles 3 месяца назад

Was your business created before 2024?

@pmlcllc 7 дней назад

As I am reading through the comments, I am so grateful that you are not only helping me, but so many others to save money or have more money to reinvest into our businesses. I am honored to have found you as I echo the other comments, that you have truly been a blessing in disguise by helping us with this process. I am telling everyone about you and will also be checking you out this tax season coming. Thank you so much.

@arturoguerrero5402 17 дней назад

Thank you for walking me through this. Saved me $400 charge from my tax guy.

@speakeasy911 27 дней назад

No, YOU are the best!! Thank you so much for creating this video. I had no idea, until today, that I had to file this form. Thank you, James❤

@TerriR-q4u 2 месяца назад

This Video saved me $800. for both my companies! Thank you

@tzengoddess Месяц назад

thanks for walking us through this ridiculous process!

@bjvu9460 Месяц назад

This is the federal government finding new ways to generate revenues for its global ambitions while taking advantage of the most gullible people on the planet who allows its government to create all types of taxes and ponzi schemes to keep its citizens poor or just above it. It never amazes me how many times they have used national security and protecting the US as the means to screw its residents. At some point in the future you will be all working in a communist country with the face of a democratic republic. Imagine paying gas tax to build roads then these insects strategize a way to have people pay to drive on the same roads that tax money built with the claim it speeds up traffic. Why is the government always out of money?

@FranciscoBarajas-l7z 3 месяца назад

thanks for this video, about to save money. My CPA sent me an email offering to do this for me for a few hundred bucks, seems super simple and something I can do myself. thanks for the all the info.

@KarianaGrande Месяц назад

you are telling me this is FREE and the accounting service I already use wants to charge me $150?! thanks for making this!

@tunanocrust2642 7 месяцев назад

Just wanted to say thank you for being clear on the US address. The cant use the registered agent address is very confusing since that technically is the business address. But you are the first person in days of research to answer this. Thanks!

@holaslashie9810 7 месяцев назад

So what address can be used to type in if we are non-US residents? I still don't get it.

@美文夜听 6 месяцев назад

The same question

@lexjuh2010 6 месяцев назад

What is meant by, “the best address you got.” ? The only address I got is the one from my registered agent.

@Facuobenauer 6 месяцев назад

Hello I have the same problem and I have contacted Fincen and they have told me that I must put the address that was present in my LLC, but it is the same address as my registered agent, the company that I have contracted has told me that I must fill in the BOI only with my details in the personal fields without giving details of my registered agent, maybe if I do this and then put the address of my company even if it is the same as that of my agent it may work.

@franklin499 5 месяцев назад

@@holaslashie9810 hey did you find out how about this? 🙏

@kenansvv 2 месяца назад

You saved me $600 thanks!

@FrankYbarra-g6j 27 дней назад

Thank you for your help, liked and subscribed. I look forward to seeing more helpful videos. As a new business owner, I seek for more content that can help me on my path and avoid the already established companies who aim to take advantage of new entrepreneurs. Don't get me wrong, some can help, although as a freshly newly formed entity, I need to do what I can to grow through my startup. Your video was detailed and thorough. You did a good job explaining all the steps and showing examples. Thumbs up to you and your editors!

@carlosmarciales7064 5 месяцев назад

Thank you so much, you were straight to the point and with some important details!

@jeanalmeida3289 3 месяца назад

This video saved me $250! Thank you for your time!!

@JamesBakerCPA 3 месяца назад

Thanks for the comment I'm glad it helped

@GilbertDeLaRosa-i9u 2 месяца назад

Thank you! You saved me some money. As a new BO, every $ counts!

@luisgerardocapri2292 4 месяца назад

This Lawer James is just Fantastic !!!! Thanks a lot

@glambyshey 7 месяцев назад

SOOOO Helpful, I still have to find time do this but I will definitely share this video with other business owners, thank you!

@johnt.warner7124 2 месяца назад

Thank you for showing this video as it provided me with some great help to get my BOI Report filed.

@jeffersonbencosme7687 4 месяца назад

Thanks so much! I'm very grateful to have found this video, very simple and easy to follow, I appreciate you !

@firemarshalbill3626 Месяц назад

THANK U JUST SAVED ME $150 AS A NEW LLC OWNER THNX AGAIN

@billshort7688 6 месяцев назад

Thanks for a useful video, like all your other videos. I note your comment about the BOI report needing a US address but that doesn't belong to a RA (Registered Agent). What I find strange is that a RA I know says that the Corporate Transparency Act effectively prevents using the RA address for the IRS also. I find this difficult to believe. Comments very welcome.

@mrsmdub259 8 месяцев назад

Thank you! Sharing it with all my small business friends & family owners! Very helpful!

@JamesBakerCPA 8 месяцев назад

Thank you I appreciate you!

@HiLoTravelers 7 месяцев назад

Thank you for all the great info! I wish taxes wasnt such a stressful thing, but you made a difference for my wife and I today.

@toorandom-z3u 4 дня назад

This is a great video and self explanatory. Though I have a question. I registered an LLC before Jan 2024. Never used it , and never filed for EIN/TIN. What do I put for EIN/TIN if I do not have one? I am stuck at this step and preventing me from completing this form.

@VictoriaDorsano 4 месяца назад

Super helpful! Made this MUCH easier than I thought it would be. Thank you!

@WilliamOdum 4 месяца назад

Thank you James. Saved me a ton of money!!

@GingerBratzel 8 месяцев назад

Thank you so much for doing this. Glad I can check this off my to do list. Check and easy to understand with a dose of common sense.

@matthewdelucca1898 7 месяцев назад

super helpful! was so worried about this process but this video helped me greatly.

@dlee7566 5 месяцев назад

Thanks for doing this video, James. Really helpful.

@MrBraveheart92 4 месяца назад

Thanks! If you are filling this form out yourself, what do you put in the company application section?

@lisamattingly8459 Месяц назад

Thank you for walking me through this!

@raffaelesilletti156 5 месяцев назад

Very clear video that partially answered to my question regarding the address of the Llc we just established. Law it's very confusing because we used the registered agent address (Northwest ) but to fill the Boi can't use that. We don't have a phisical address because we don't need it and at same time I don't want to use my personal address as a shareholder. Considered that company is registered in Nevada can we use street address of a friend of us in Vegas who agrees to do that? The registered agent wasn't able to answer to my question. Thank you

@xoLia555 Месяц назад

You’re my hero! Thank you so much saved me $149

@NeemaEnriquez 7 месяцев назад

Great video. Clear and to the point. Thanks so much for doing this!

@JamesBakerCPA 7 месяцев назад

Thanks for watching!

@DieselDan. 5 месяцев назад

Thanks, James, and late Happy B-Day!

@AngelGimenez-ys5ks 5 месяцев назад

This video just saved me $400. Thank you

@shamarmilton8626 8 месяцев назад

James Thank you for sharing, I was stressing on what to do. Very Helpful!

@benjaming8 5 месяцев назад

THANK YOU.. Crazy these companies are charging folks $200 plus to do these simple steps lol.. Appreciate you

@mackenzielb942 Месяц назад

The website rejected me three times, and I couldn't figure out why. I filled out the form following your video, and boom! Thank you!

@jeffhaney2827 8 месяцев назад

James, Thank you very much for the update and the great information on setting up fincen. You made my Year. Thank you.

@chrisl359 5 месяцев назад

So everything seems straight forward but I have Georgia license. On the identification number is that the DD number on license??

@shotsniper009 14 дней назад

Thank you thank you surprisingly short and easy

@mickieerickson7267 2 месяца назад

Thank you. Great video, easy to follow.

@alejandragarbutt7575 3 месяца назад

Thank you for helping me fill this form out!

@younesaitdabachi7968 23 дня назад

Now I found my Mentor On youtube Finally!!!

@entoptik Месяц назад

Thanks so much Florida Fam!

@lizyuni6330 14 дней назад

Thank you

@aquacat3552 7 месяцев назад

Question. If you paid a company like Bizee to set up your llc for you, who would be the company applicant? Myself for sending the order to them to register my business or would it be them since they were the ones who actually filed it?

@sha8046 6 месяцев назад

I have the same question. I initially left the Company Applicant information blank but it will not allow me to submit without filling in that information.

@Live2ride2live54321 3 месяца назад

I have the same question... I had a company create the LLC but im filling out this form so I have no idea...

@IruneBarandiaran 7 месяцев назад

Thanks James. I just have to find sometime to go thru. Very easy. Save some money

@teddyhcuts 6 месяцев назад

you are an angel! thank you for this video! saved me some stress

@MarciaCozer-Realtor Месяц назад

Thank you so much. Super helpful.

@MaryHills-o3s 23 дня назад

Very helpful! Thank you!

@nawazwaheed9395 7 месяцев назад

Mr James, thanks a lot for sharing great and helpful information 👍

@mcse38 7 месяцев назад

Thank you for this, last month I filed for my LLC and then after everything was done and all paperwork was done they call me a few weeks later and told me about FinCen. Then they are trying to sell me their services of $149.00 to file it for me. LOL I am like no I think I will do it on my own but did some things a little backwards and created a FinCen ID first :(. I have one question and that is on the part for the reporting company page would I check to Request to receive FinCen ID or just leave that part blank since I have an ID already? Also one more question and that is for the Company Applicants section would I need to fill this out as well or leave it blank? TIA

@sheniemoore4603 4 месяца назад

Just subscribed. This helped me out so much! Thank you.

@sharmataxpro2602 7 месяцев назад

Thanks James! I like that just Straight to the point..

@h0o0dat 29 дней назад

Very insightful and easy to follow. One question, I put my business address for myself in the beneficial owners section. Should I edit and change to my home address?

@DAYURISPENAFUERTE Месяц назад

I truly appreciated this video, you saved me $350, thank you very much! On the other hand, I put my llc and dba in the same application is that right or, am I supposed to separated them?

@WeneslyLouina 21 день назад

thanks a lot .i subscribed and liked

@nickcrespo21 6 месяцев назад

Well done. You earned a subscriber.

@emqz8694 Месяц назад

Many thanks brother!👏🏻🙌🏻

@merchandisingparadise9440 7 месяцев назад

I appreciate your very excellent work. great man.

@gripm4040 4 месяца назад

Thanks for saving me $230!

@ricocabrerajr.3476 Месяц назад

Thanks James

@jeannettealfaro7489 18 дней назад

Thank you!!!!🙏🏻

@lunacrystalcandleco 5 месяцев назад

Thank you for this video! Huge help

@Ak2actiive 28 дней назад

Just saved me $200!

@FamilyCalendar-cg2ky 4 месяца назад

Beneficial owners, do all owners that own a percentage need to be added as well

@LeeHow2016 Месяц назад

I really like your tie!

@MonicaBellucianni 22 дня назад

You are the men ! ❤

@Jayambitiousamg 6 месяцев назад

Appreciate your soul !

@janetprchal524 6 месяцев назад

Thank you this was very helpful!

@gatorsam 4 месяца назад

much appreciated James! I am new subscriber!

@EngineThis 6 месяцев назад

Happy Birthday James :)

@victors2731 11 дней назад

Realest in the CPA Game 💎

@nicweethee 5 дней назад

Hey James. This year I have to close down my S corp because it will be another low profit year so looking to pivot and begin a new company as either a sole proprietorship or LLC. If I started an LLC with your company would you do all the filings? Thanks for your time😊

@CourageDreams Месяц назад

Hello James. I ran across your video here and it was so helpful. It worked just like you laid out everything. James you mentioned at the end of this video I would receive a email confirmation? I never did get a email confirmation. Has anyone here did not receive confirmation email? I am not to worried because I received a successful filing PDF at the end of the filing which I downloaded. I received my Reporting Company FinCEN ID, and BOIR ID. So this is awesome. Question James, what is the "Submission Tracking ID"? is this for my personal internal use or is this for their internal use for tracking ID? Thanks James.

@Cecy-bg4zs Месяц назад

Thank you very much. I have a question, and LLC with 10 shareholders need to enter the information for each shareholder? Who are the beneficiaries? I am little confused.

@Jacksontnj 2 месяца назад

Thank you very helpful

@drsufian 8 месяцев назад

Thank you James!

@Sam-lw9kc 8 месяцев назад

Thank you. If I have three or more LLCs, do I have to file separately?

@eppsislike 7 месяцев назад

Duh, every entity is separate mate

@srose2003 Месяц назад

Thank you.

@lizarasikh109 2 месяца назад

Thank you so much!

@erikaortuno5824 7 месяцев назад

Great video! Thank you

@danysantana642 6 месяцев назад

Thanks for the insight !!!

@AnthonyO-r1h 3 месяца назад

Thanks for video

@veronicalima8428 5 месяцев назад

Thank you so much James! This was so helpful! I have a question though, which I can’t find an answer anywhere. When reporting an LLC that has a trust as the beneficial owner, do we report the name of the trust anywhere in the BOI Report? Example: Beneficial owner information - 38. Individual’s last name or entity’s legal name: NAME OF THE TRUST; 39. First name: GRANTOR’S NAME ??? Or do we just report the grantor’s information and do not even mention the name of the trust? Thank you so much!!!!!

@tsunami770 15 дней назад

Insurance Producers & Brokerages as LLCs are exempt under exemption #13 does exemption mean you don't have to file or does it mean you have to file as exempt?

@Helloo0oo-k 2 месяца назад

Thank you for the valuable information. I think your information will be of great help. However, in my case, there is an inc. headquartered in Japan and an inc. in California, and of course, 100% of the shares are owned by the head office in Japan. How should I report this case?

@Jack_watson 7 месяцев назад

Sir, when I submit a BOI report for my LLC, FinCEN is asking for the current U.S. address mentioned on lines 11, 12, 13, 14, and 15 on the FinCEN website. However, the address listed for my LLC is India address. Sir, please advise on what to do.

@naturepets9572 6 месяцев назад

What did you do bro?

@MLHM179 5 месяцев назад

Thank you, very helpful :)

@c-carter5834 2 дня назад

Like in my case I already registered my business and LLc . I did this my self . Now that I try to to file a report to fincen I got where it says company applicant, I put my name and address?