File your BOI report with FinCEN or face daily penalties of $591 up to $10,000 and up to two years in prison. You'll need your business EIN, addresses, and driver's license info for any partner owning over 25%. The FinCEN portal walks you through it step by step.
If you don't file, the IRS can charge you $591 a day up to a $10,000 max. That penalty can include up to 2 years in prison. It really doesn't take that long. Just get this done. A group called FinCEN, they're the ones collecting this information. You are going to need your business info, like the EIN for your business, your address, your personal information. If you have partners that own more than 25%, their personal information and driver license information. You'll go to the government website. It's actually pretty user-friendly. Did it myself. It was really fast. You click the link, you put in the business info, you put in your personal information. It prompts you along the way. We've created a blog post that has a lot more details on the BOI filing, including the one link that you're gonna do this, that you would go to.
