Starting January 1, 2024, individuals can request a FinCEN identifier through an electronic web form. This involves providing details such as full legal name, date of birth, address, unique identifying number from an acceptable identification document, and an image of said document. Upon submission, the individual promptly receives a unique FinCEN identifier.
Reporting companies can request a FinCEN identifier by indicating so on the BOI report. After submission, the company instantly obtains a unique FinCEN identifier. If a reporting company desires a FinCEN identifier after its initial BOI report, it can submit an updated report specifically for this purpose, even if other information remains unchanged.
Obtaining a FinCEN identifier is not mandatory for individuals, company applicant, or reporting companies.
Each entity or individual is entitled to only one FinCEN identifier.
Important note - the SnapBOI platform eliminates the need for a FinCEN identifier:
- When a beneficial owner (BO) completes the first BOI report (including his/her name, DOB, address and photo ID) - the BO may then be selected from saved for all additional BOI reports which the BO is affiliated. This eliminates the need to enter the BO information, including photo ID multiple times for multiple BOI reports.
- When a company applicant (CA) completes the first BOI report (including his/her name, DOB, address and photo ID) - the CA may then be selected from saved for all additional BOI reports which the CA is affiliated. This eliminates the need to enter the CA information, including photo ID multiple times for multiple BOI reports.
Related Articles: What is a "FinCEN identifier?
How is a FinCEN identifier utilized?
How can I use a FinCEN identifier?
Are FinCEN identifiers obligatory? Should I obtain a FinCEN ID?