Firstly with the ignition switched on, set the odometer trip meter back to zero by pushing it once. Then switch the ignition back off again. (I found this step was critical, otherwise I couldn't get to the "Service" menu).
Now you are ready to go through the reset steps as follows:
1. Switch the ignition on (so that the battery, Oil and Parking brake lights are displayed) and the key is ready to start the engine - but don't actually start the car.
2. Press the odometer reset button for between 5 and 10 seconds until a yellow triangle with an exclamation mark in the centre appears in the top window between the clocks (where the outside temperature / time or date normally appears) - this is the "Service" icon.
3. Release the odometer button briefly and press again straight away which brings up a picture of the Brake Fluid symbol (same as the one that the i-drive shows when you look at the Service menu).
4. If you want to reset the Brake Fluid interval for another 2 years then keep holding the odometer button until the word "RESET?" appears at the bottom of the lower window.
5. Release the button briefly and push it in again and hold for about 5 - 10 seconds until the new date appears in the bottom window. You can then switch the ignition off and the new Brake Fluid date will appear in the service menu on the i-drive screen next time you switch on.
6. If you want to reset the Oil, Microfilter or Brake Pad indicators then you will need to follow the same sequence as steps 1 and 2 above, but when you get to step 3 and the brake Fluid icon appears, just release the button and press again and the next service item will appear.
7. You can continue releasing and pressing the button until the required service item icon appears for the one you want to reset. As soon as it does then hold in the button in until the word "RESET?" appears again as in step 4 above. Once the word "RESET?" has appeared, you need to release the button briefly and hold it in again for about 5 - 10 seconds until it is replaced by the new service interval figure (as per step 5 above).
Hints & Tips
Before actually resetting anything, go through steps 1, 2 and 6 above until you are familiar (and sure) what you want to reset. Practice this a few times and note down in what order the icons appear after the initial "Service" icon appears.
If you do happen to hold the button down too long against an item you don't want to reset and the "RESET?" appears, just leave the button alone for 10 seconds or so and it will not let you reset the item. (Alternatively just switch the ignition off and start again).
Sometimes if you have not released and pressed the button again quickly enough, when you hold it down again the German technical writing will appear after about 15 - 20 seconds instead of the Service item icon you were expecting. (If this happens just switch off the ignition and start again).
Once you are sure what item you want to reset and are confident of the sequence, then give it a go. If you do hesitate between releasing and pressing the button at any time, you will have to go back to the beginning and start again as "he who hesitates is lost".
Source: How do you reset service light bmw e60? - Yahoo! Answers