What Small Business Owners and Creators Need to Know

Let me paint a picture for you. You’re hustling, building your dream business, or perfecting your craft as a creator. You’ve got clients, maybe a growing audience, and a head full of ideas. Then suddenly, you hear about something called BOI filing—and no, it’s not some new trendy app. It’s Beneficial Ownership Information, and it’s something the government now requires from most small businesses.

If you’re thinking, “What even is that?”—you’re not alone. Many small business owners and creators are just learning about it. But here’s the deal: it’s important. Let’s break it down so you’re in the know and can handle it like the pro you are.

What’s BOI and Why Should I Care?

BOI stands for Beneficial Ownership Information, which is basically a fancy way of saying, “Who’s really behind this business?” The government wants transparency. They’re requiring small businesses to file this info with FinCEN (the Financial Crimes Enforcement Network) starting January 2024.

Why? To combat stuff like money laundering and tax evasion. Sure, that might sound far from what you’re doing, but this law is aimed at rooting out illegal activity across the board. Unfortunately, even legit businesses like yours are part of the equation.

Does This Apply to Me?

Here’s the short answer: If you own a small business—like an LLC, corporation, or similar entity—then yes, you probably need to file. There are some exemptions, like nonprofits and publicly traded companies, but if you’re a solo entrepreneur, small creative agency, or running a side hustle, you’re likely on the hook.

What Do I Need to Do?

Before you panic, this isn’t rocket science. You just need to submit some basic info:

Your Business Details: Name, address, EIN (Employer Identification Number).
Your Info: Full name, birth date, residential address, and a government-issued ID like a driver’s license or passport.

If your business has other owners or significant decision-makers, you’ll need their info too.

Where and How to File

This isn’t some random paperwork you toss in the mail. You file it online through FinCEN’s portal. Here’s how:

Visit FinCEN’s website (fincen.gov).
Head to the BOI reporting section.
Create an account and fill out the form.
Double-check everything and hit submit.

You’ll get a confirmation that you’ve filed, so keep that for your records.

Deadlines to Know

If your business is already up and running before January 1, 2024, you’ve got until January 1, 2025, to file. Finn says BOI filing deadline is January 13, 2025
If you’re starting a new business in 2024 or beyond, you’ll need to file within 30 days of registering.

Why It Matters

I get it—this might feel like just another bureaucratic hurdle, but it’s one of those “pay now or pay later” situations. Failing to file could lead to hefty penalties. Plus, staying compliant keeps your business in good standing and makes you look legit.

Final Thoughts

As small business owners and creators, we already juggle a lot. Filing a BOI report might feel like one more thing on the to-do list, but think of it as protecting what you’re building. Your business is more than paperwork—it’s your passion, your livelihood, your time. Staying ahead of requirements like this keeps you in the driver’s seat.

If you haven’t heard about BOI before, now you know. And if you’re still unsure about how to handle it, don’t hesitate to ask for help—from me, a fellow creator, or a legal pro. it took me about 10 minutes of my time because I had my documents near.

Let’s keep building—and keep it legit. hope this helps,

BOI Filing “DO IT NOW!”