Beneficial Ownership Interest Reporting

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Beneficial Ownership Interest Reporting

On January 1, 2024, new beneficial ownership information (BOI) reporting guidelines took effect as part of the Corporate Transparency Act (CTA). Going forward, many small business entities must report beneficial ownership information to FinCEN or risk penalties and fines.

Compliance with government reporting requirements can be a daunting process. Our platform is designed to walk you through the process in plain English and will identify if you qualify for an exemption. Note we will provide a 100% refund if you do qualify for an exemption so there is no risk to you.

All plans come with a free annual compliance support package, with routine reminder emails, to help you maintain ongoing compliance.

What Is FinCEN BOI Reporting?

FinCEN BOI reporting is a mandatory NEW business filing, requiring most U.S. companies to submit their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) in 2024. This requirement comes from a new law called the Corporate Transparency Act that was passed to enhance the government’s efforts to combat money laundering, terrorist financing, and other financial crimes. This reporting requirement started in 2024 and it is enforced by potential penalties including fines of $500 per day up to $10,000

Who is Affected

Entities required to report under this regulation include corporations, limited liability companies, s-corps, LLPs, and other entities created by filing a document with any U.S. State. The majority of for-profit business entities will be required to file this report unless they qualify for an exemption. You can find out if you have an exemption easily on this page

Can We File Your FinCEN report?

Yes, our firm can file your report. We use a specialized web platform to make this process easy for you. This platform will securely and quickly collect your filing information for our firm to let us complete your report.

What are the due dates?

1) Entities created before Jan. 1, 2024, will have until Jan. 1, 2025 to submit the report.

2) Entities created on or after January 1, 2024 and before Jan 1, 2025, will have 90 days from creation or registration to submit the report.

3) Entities created on or after Jan. 1, 2025, will have 30 days from creation or registration to submit the report.

Why Pay to file when it's Free online?

Great question! You can file online for free, but then any revision requires you to start from scratch, and you have to rely on correctly reading and understanding the online form. Our platform walks you through the process efficiently by prompting you with plain English questions AND saves the data for revision later as needed. Also, as part of the CTA Compliance Support package, you will be prompted routinely to help ensure you never miss a filing obligation.