Completing Your Own BOIR Report

Beneficial Ownership Information Report – Why Pay ? It’s FREE!

It’s unbelievable how a few folks at UCO, who apparently tried to complete Their Beneficial Ownership Information Report by themselves and were unable to complete it without help, now insist on telling the rest of the Boards of Century Village that they must pay hundreds of dollars to a lawyer, property manager or accountant, to complete a simple 10 minute report that can be done on your own for free!

As a member of the Board Synergy Club, or Synergy Club for short, I have given several presentations, workshops, and created detailed step-by-step videos that make it so simple to complete your BOIR report. In my videos, in which I use LMS (Learning Management System) software to make it very easy to watch and learn, I go step-by-step through all 5 of the sections to complete the report. In reality, there are really only 2 sections that require any significant input.

Click on this link to watch 2 Step-by-Step Video guides to completing the BOIR

For instance, in Section 1, you need only check a box that says “Initial Report”. The date is automatically populated for you. That’s all there is to Section 1!

In Section 2, you simply add your Association’s information. This section is called “Reporting Company”. Reporting company simply means – your Association. All you need is the EIN, which you can find on the upper right corner any of your Association’s tax returns. Then you simply enter information into the boxes which ask where the Association was created, such as in Florida, United States of America, the address of the Association (I added my own address). That’s it!

In Section 3, there is only one checkbox to check. This section is not even used for our associations, because it only pertains to entities that were created after January 01, 2024. Our associations were created back in the seventies. So you only check the box that says we are exempt from this section, and it’s off to section 4! See how easy this is!?

We are now in Section 4. Now here’s the main section that you actually enter some real information in. This is where you’re going to enter the information for each of you board members. Again, it’s extremely easy to follow the steps on the page. For example, this is what you’ll enter on this section:

• The Board Members Legal Name
• Date of Birth
• Address, Including City, State, ZIP Code and Country
• The Identifying Document Type (Non-Expired Driver’s License, State ID or Passport
• An Image of the Identifying Document

This last step is where some people run into some confusion. Here’s how you solve the problem:

• Take a picture of your drivers license (front only). Fill the whole frame of your camera with the drivers license.
• Share the picture from your phone to your email. In other words, you want to attach the picture to an email and send the email to yourself.
• Then go to your email on your laptop or desktop.
• Open your email and find the message that has the picture attached to it.
• Open the picture. Then save the picture to a folder on your computer that you will remember. If you need to, you can create a new folder just for the picture, or just place it into a folder that you already have on your computer.
• Now, go back to the BOIR and in the box that asks for an image of your drivers license, click on the “Select File” link. A file window will open up which will allow you to go to the folder where you placed your file (a driver’s license picture). Select the picture and click okay or open at the bottom right of the window.
• The window will close, and you’ll see your file name inside the box, ready to upload!
• You will repeat this process for each board member. The way to add additional board members is to go to the top of the section where you will see a button on the upper right corner that says, “Add Beneficial Owner”. Once all board members have been added, just scroll down to the bottom of the page and click the “Next” button

Now that the hardest part of the whole report, right?

Now you’re at the last section, Section 5. Section 5 is simply where you submit the form. All you have to do is enter your name, your email address, prove that you are really a human by clicking on the “I Am a Human” checkbox. Click the Submit button. You are finished – almost!

Actually, you are finished, but you’ll want to save a copy of the summary of the report that you just completed. When you click submit, you’ll see on the next page a a button that says “Download Transcript”. When you click that button, a copy of the transcript, or summary of your report, will be downloaded to your browser and you can find it in the downloads folder on your computer. Just copy that file and place it into a folder on your computer that is designated for your BOIR information.

If you have any questions while trying to do your report, here here is a helpful link to the videos I created that you can watch along with instructions provided by FinCEN (Financial Crimes Enforcement Network).

Click on this link to watch 2 Step-by-Step Video guides to completing the BOIR

Reply to this post to let me know how things went. If we need to do a workshop for you or help you personally, please don’t hesitate to call me. I’ve helped many owners already and will gladly help you as well! Have fun!