I hope you received value from the video. If you do, it would really help this channel if you Subscribe. It's FREE. 😉 Here's a link to my (free) Facebook group: facebook.com/groups/951368119040370
Thanks for the video. It was helpful with one omission. On the reporting company #16 there was a note that said do not check if the reporting company was created on or after Jan 01 2024. Check box if the company was created before that date. Those that check the box do not have to report have to report any company applicants and then it says go to page III.
Hi Noel. Thanks for the video. I filed it today. The only problem I ran into was when I attempted upload the photo. I took a photo of my driver's license with my iPhone and it would not upload because my photo exceeded 4MB. Then I changed the photo to JPEG, TIFF and PNG and it still was too big of a file to upload. I finally got the photo to upload by making a copy of my driver's license by scanning it on a photocopier and emailing it to myself. Then I downloaded it on my desktop and uploaded it finally. I just wanted to mention this in case anyone else had this problem Thanks again for your video.
Hi Clint, Thank you for sharing your experience and the workaround you found for uploading your driver's license photo. That's a great tip for anyone else who might run into the same issue with file size limits. I appreciate you taking the time to watch the video and provide feedback-it’s incredibly helpful!
Thank you very much for the video, I will follow the step by step. And of course, I can also follow you on You Tube, I see that you provide a lot of beneficial information. Congratulations👏👏👏
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?
Correct me if I'm wrong, but I believe BOI reporting IS required for sole proprietors IF you are conducting business as an LLC. Sole Proprietorship is a tax reporting status, not a business entity type.
To be clear, sole proprietors do not need to file a BOI report. LLCs, including single member LLCs, taxed as a sole proprietor need to file a BOI report.
The Registered Agency that formed and filed my LLC said they only let business owners that is not living in the USA use their address to file BOI. Can i use my residential address for both address section?
Great Video! It was very helpful Question 16 Existing reporting company, I checked the box. Its didn't allow me to fill out the the part underneath Question 19 thru 29. Is that correct? In your video you fill in the information.
Yep, that should be right. If you have more questions, I've uploaded a video here where I talked about common questions related to BOI Reporting. Feel free to check. 🙂 Here's the video: ruclips.net/video/yduU8lvZgBw/видео.html
Hello there Noel, thank you for the video. May I ask for foreigners, what should we put down for the US company address? Can I put down my virtual office address?
What if im a foreign national formed my company in Wyoming and have not received my EIN yet? Can i just file now without my company EIN and just update it later?
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?
NO one is explaining what address to put in a foreign Non-Resident of the USA for the BOI if "Company address cannot be Registered Agent address, PO Box or Virtual Office"!!!!!!
What do I do if I'm closing my LLC this year? Is there a "Final" form I also must file? Or is there a way to denote I'm closing the company (or closed the company) in the Initial filing?
Hello Noel, I submitted my business BOI back in February. How do I check the status of the submission? I can't seem to find anything that allows me to check the status. Thanks.
Hi there! I have 6 different LLCs I am the sole owner of it no members etc. I completed one report, and I have received the FinCEN Id can I use that Id to fill out the other 5 reports? Or does each LLC need its own FinCEN ID?
Being a Sole Owner does not make you exempt from filing. For you to be exempted from filing this BOI, you should be one of those 23 entities that are exempt. If you need more info about BOI Filing, I've uploaded a video where I talked about common questions regarding BOI Reporting. Here's the video: ruclips.net/video/yduU8lvZgBw/видео.html
incredibly tedious, unless you like watching him enter his address on a website. He doesn't even explain the basics, like how many beneficial owners to enter.
I hope you received value from the video. If you do, it would really help this channel if you Subscribe. It's FREE. 😉
Here's a link to my (free) Facebook group:
facebook.com/groups/951368119040370
Thanks for the video. It was helpful with one omission. On the reporting company #16 there was a note that said do not check if the reporting company was created on or after Jan 01 2024. Check box if the company was created before that date. Those that check the box do not have to report have to report any company applicants and then it says go to page III.
Thanks for the clarification!
Hi Noel. Thanks for the video. I filed it today. The only problem I ran into was when I attempted upload the photo. I took a photo of my driver's license with my iPhone and it would not upload because my photo exceeded 4MB. Then I changed the photo to JPEG, TIFF and PNG and it still was too big of a file to upload. I finally got the photo to upload by making a copy of my driver's license by scanning it on a photocopier and emailing it to myself. Then I downloaded it on my desktop and uploaded it finally. I just wanted to mention this in case anyone else had this problem Thanks again for your video.
Hi Clint, Thank you for sharing your experience and the workaround you found for uploading your driver's license photo. That's a great tip for anyone else who might run into the same issue with file size limits. I appreciate you taking the time to watch the video and provide feedback-it’s incredibly helpful!
You’re welcome.
WOW!!! Quick & Painless. Some accounting firm just called me & tried to charge me $2,700!!! THANK YOU IMMENSELY!!!
Great to hear!!
❤
Thanks for the informative video!
Glad it was helpful!
Great information. Thank you
Glad it was helpful!
Excellent video, thank you
Glad you liked it!
Thank you for sharing the knowledge! Sharing!
Glad it was helpful!
Thank you Noel por your video. Very helpful
My pleasure Edgar! Thanks for checking it out
Thanx Noel for the great video --- worked as you instructed. 👍
I'm so glad it worked for you!
Excellent information thanks 🙏
Thank you very much for the video, I will follow the step by step. And of course, I can also follow you on You Tube, I see that you provide a lot of beneficial information. Congratulations👏👏👏
Aracelly, thank you very much for your kind words 😊🙏
Thank you so much! this saved me lots of money & It was so easy! Thanks for the step by step!
My pleasure! I’m glad it helped. I just filmed a FAQ which answers the most common questions including how to update your filing if needed.
Thanks so much for all your help!
You are so welcome!
Nice
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?
That sounds correct! Thank you!
How do you add multiple owners on the form. I click on "add owner" and it doesn't allow me to put more than one owner on the form. Thanks
Correct me if I'm wrong, but I believe BOI reporting IS required for sole proprietors IF you are conducting business as an LLC. Sole Proprietorship is a tax reporting status, not a business entity type.
To be clear, sole proprietors do not need to file a BOI report. LLCs, including single member LLCs, taxed as a sole proprietor need to file a BOI report.
Thank you
You're welcome!
Good information! Do Uber drivers have to file this BOI report, as independent contractors??
Thanks! If they are a sole proprietorship, no. If they setup an LLC, yes.
Thank you so much for the video. I have a question. what if your corporation's Beneficial Owner is a family trust. How to report the BOI?
Sorry, but I'm not sure. I am planning a follow up video with frequently asked questions, and I'll try to include this.
The Registered Agency that formed and filed my LLC said they only let business owners that is not living in the USA use their address to file BOI. Can i use my residential address for both address section?
Great Video! It was very helpful Question 16 Existing reporting company, I checked the box. Its didn't allow me to fill out the the part underneath Question 19 thru 29. Is that correct? In your video you fill in the information.
Yep, that should be right. If you have more questions, I've uploaded a video here where I talked about common questions related to BOI Reporting. Feel free to check. 🙂
Here's the video: ruclips.net/video/yduU8lvZgBw/видео.html
Hello there Noel, thank you for the video. May I ask for foreigners, what should we put down for the US company address? Can I put down my virtual office address?
Sorry, I don't know the answer to that.
Great video. Was curious did you ever get an email sent to submitter email address you put in stating it was accepted or anything?
No, I didn't receive a confirmation email. Just the confirmation screen at the end where you can download a copy of the accepted submission.
You get a PDF report once it is done. Download it and keep records of your filing.
What if im a foreign national formed my company in Wyoming and have not received my EIN yet? Can i just file now without my company EIN and just update it later?
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?
Please check out my BOI FAQ video and then review their website to see if your question is answered: ruclips.net/video/yduU8lvZgBw/видео.html
NO one is explaining what address to put in a foreign Non-Resident of the USA for the BOI if "Company address cannot be Registered Agent address, PO Box or Virtual Office"!!!!!!
What do I do if I'm closing my LLC this year? Is there a "Final" form I also must file? Or is there a way to denote I'm closing the company (or closed the company) in the Initial filing?
I'm not certain, and you might want to verify, but there is no 'final' form or a way to indicate you are closing your company.
Hello Noel, I submitted my business BOI back in February. How do I check the status of the submission? I can't seem to find anything that allows me to check the status. Thanks.
I don’t believe there is a way to check that.
Hi there! I have 6 different LLCs I am the sole owner of it no members etc. I completed one report, and I have received the FinCEN Id can I use that Id to fill out the other 5 reports? Or does each LLC need its own FinCEN ID?
I am sole owner, shall i check box 37 ? For exempt ?
Or i dont need to file at all ?
Being a Sole Owner does not make you exempt from filing. For you to be exempted from filing this BOI, you should be one of those 23 entities that are exempt.
If you need more info about BOI Filing, I've uploaded a video where I talked about common questions regarding BOI Reporting.
Here's the video: ruclips.net/video/yduU8lvZgBw/видео.html
I haven't received a confirmation email after I submitted the application is that normal?
Thank for the video
It's normal. They do not send a confirmation email. Hopefully you saved the pdf summary report from the end of the process.
@@NoelLorenzanaCPA Thank you for your reply....Yes I did save the summary.
If there are future updates for the original BOIR, is the submitter or company applicant liable to make the changes?
Yes, an update BOIR must be filed. The company is responsible
Thank you for the video. I do not have a business address. Could I use my residential address as business address? Thanks.
Yes, I believe that would be appropriate.
Is it better to not have LLC and just use sole proprietor? To avoid this step? Especially if you are a small business.
That’s kind of a legal question that I can’t answer for your specific situation. Although, I do like the simplicity of sole proprietorships.
Once I submit is there any further steps
Nope, that's it.
For a 2 owner LLC, Should both owners information go in the company applicant(s) and the beneficial owner section? Thank you
Yeah precisely. This video answers nothing. Shows you how to fill in a form, possibly correct, and maybe not.
only one owner have to file too ?
Each LLC needs it's own BOI filing.
if it's a LLC that has 2 owners, do you need to add information for both of them?
Yes
@@NoelLorenzanaCPA 2 separate reports or on the same report??
Same
Thats gona be every year .?!!!
No
incredibly tedious, unless you like watching him enter his address on a website. He doesn't even explain the basics, like how many beneficial owners to enter.
I am sole owner, shall i check box 37 ? For exempt ?
Or i dont need to file at all ?