Avoid penalties, including imprisonment for up to two years and/or fines up to $10,000, and civil fines over $500/day. File your Beneficial Ownership report today.
Explore our diverse range of professional consulting and coaching services.
Why Use FinCEN Filing To File A Beneficial Ownership Information Report?
You may only have a limited time to file a Beneficial Ownership Information Report (BOIR) before your deadline. With our easy and accurate report filing, we can help reduce the risk of not satisfying federal mandates.
Get Compliant
Satisfy the new federal reporting requirement with our help. We will file the information about the individuals who own or control your business with the Financial Crimes Enforcement Network (FinCEN).
Avoid Penalties
Not filing a report on time could result in serious criminal and civil penalties. We will ensure your filing meets all federal requirements to help you avoid liability and having to pay any associated fees.
File With Confidence
Get peace of mind with our accurate, compliant filing. You can be sure that we will include all the required information about beneficial owners. Plus, you receive confirmation upon completion of the report.
What Is The FinCEN BOI Report?
The Financial Crimes Enforcement Network, commonly called FinCEN, is an agency of the U.S. Department of Treasury that implements rules to improve transparency and prevent financial crimes.
Under the Corporate Transparency Act, FinCEN published the Reporting Rule, which went into effect on January 1, 2024. The Reporting Rule requires businesses to comply with BOI reporting requirements.
How To Complete The Beneficial Ownership Information Report In 3 Easy Steps
To avoid the civil and criminal penalties, reporting companies must report information about those who own or control the business by the federal deadline. We can help you easily and accurately meet those requirements on time.
Included in our BOI Report Filing Service:
Our experts check your business status to determine your Corporate Transparency Act requirements.
We handle the paperwork, collect the required information, complete, and submit the filing on your business's behalf.
Who is a beneficial owner?
Beneficial owners are individuals who directly or indirectly: (1) own or control at least 25% of your company’s ownership interests, or (2) exercise substantial control over your business. Common examples of beneficial owners of a reporting company can include the following:- An important decision-maker for the reporting company- A senior officer (president, chief executive officer, chief financial officer, general counsel, chief operating officer, or any other officer with a similar function)- An individual with the authority to appoint or remove certain officers or a majority of directors (or similar body) of the reporting company
What's the Corporate Transparency Act?
What are the penalties for not filing?
Effective Jan. 1, 2024, this is federal legislation created to curb illicit finances and boost transparency around company ownership structures. This helps the government crackdown on financial crimes and fraud, such as money laundering, corruption, human trafficking, drug trafficking, tax fraud, and fraud against employees, customers, and other businesses.
Each business is responsible for filing a Beneficial Ownership Information Report (BOIR), which includes the individuals who control or own the business. However, a beneficial owner of a business who willfully fails to follow the reporting requirement and filing rules will face personal liability in the form of both criminal and civil penalties for noncompliance. Failure to comply can lead to criminal penalties of imprisonment for up to two years and/or a fine of up to $10,000, and a civil penalty of up to $500 per day.
It’s critical for reporting companies to file before the deadline to avoid penalties. Existing businesses, or reporting companies created or registered to do business in the U.S. before Jan. 1, 2024, have until Jan. 1, 2025, to file.
Newly created reporting companies, or businesses that formed in 2024, have 90 calendar days from the date of formation to file. This means 90 days from the date of receiving actual or public notice that your business is officially registered.
Even if a reporting company files the report on time, penalties can be imposed if the report does not include the correct information. It is critical that the reporting company’s filing is accurate and includes all the required information about the company, its formation, and its beneficial owners. We can help you ensure accurate filing with a simplified reporting and filing process, satisfying the federal mandate.
