Your Trusted Partner for CTA Compliance

Starting January 1, 2024, the Corporate Transparency Act (CTA) requires certain U.S. business entities to file beneficial ownership information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN). This critical federal law aims to combat financial crimes like money laundering, tax fraud, and human trafficking.

At FinCEN Report, we understand that navigating these new compliance requirements can seem daunting. That’s why we’ve developed a secure, user-friendly platform designed to make your compliance journey straightforward and stress-free. Whether you’re a business owner or a business advisor managing compliance for multiple clients, our tailored solutions ensure you and your clients stay compliant with ease.

FinCEN Report makes filing BOI reports simple and secure.

Fast Information
Upload

Upload beneficial ownership information quickly and efficiently with our streamlined process.

Encrypted & Cybersecurity Certified Portal

Rest assured knowing your data is secure with our encrypted, cybersecurity-certified portal.

Automated Compliance Reminders

Easily stay in compliance in the future with our automated smart alerts.

Customer Support

Our expert resources get your CTA questions answered.  Contact us anytime to assist with questions and/or technical issues.

Multiple Company Filing

Streamline filing for multiple entities and make updates needed to ensure compliance with ease.

Easily Manage Compliance for Your Clients

Tailored support and training packages designed for the unique needs of firms helping businesses comply.

Get started today and simplify your compliance journey with FinCEN Report. Sign up now to ensure seamless and secure compliance with the Corporate Transparency Act!

Key Deadlines & Enforcement

New Businesses

Formed on or after January 1, 2024 must file an initial BOI report within 90 days after formation.

Existing Businesses

Formed before January 1, 2024 must file an initial BOI report no later than January 1, 2025.

Amendment Required

Within 30 days after any change in previously-reported data or any change in beneficial ownership.

Failure to comply

May bring a fine of $500/day and/or a possible felony with up to 2 years in prison.

Making Corporate Transparency Act Compliance Easier for Everyone

To help fight money laundering and other financial crimes, in 2020 Congress passed the Corporate Transparency Act. This new law requires the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) to compile a database of U.S. businesses and their beneficial owners.

Since government registration processes can be cumbersome for busy business owners, and the professionals that work with them, we’ve developed a solution that makes the process easy for all involved.

Meet Our Founder

Jonathan B. Wilson is a co-founder of FinCEN Report Company, LLC. He is an attorney and corporate partner at Taylor English Duma LLP with 33 years of experience in corporate, M&A and securities matters. He is a former general counsel or chief legal officer of Web.com (NASDAQ: WWWW) and EasyLink Services International Corporation (NASDAQ: ESIC).

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We have answers to the most Frequently Asked Questions.

Our FAQs help you get informed and prepare for CTA Compliance.

The Corporate Transparency Act, or CTA, is a U.S. federal law that was passed in 2020. Its primary aim is to combat money laundering and the use of anonymous shell companies by requiring certain companies to report their beneficial ownership information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The CTA is significant in the fight against financial crimes as it helps law enforcement agencies and regulators to better trace and identify the individuals behind potentially illicit activities involving anonymous shell companies. It aids in making it more difficult for criminals to hide their assets and financial dealings.

The CTA was enacted into law as part of the National Defense Authorization Act and went nto effect on January 1, 2024.

FinCEN Report’s software was developed to help reporting companies submit their beneficial ownership information (while safeguarding data privacy) and stay compliant.

Covered companies are required to report information about their beneficial owners, which includes individuals who own or control at least 25% of the company or exercise substantial control over its operations. A reporting company’s BOI report must include basic information about the company itself (such as its full legal name and state of organization) and personally-identifying information about its beneficial owners (such as legal name, date of birth, residential address and a unique identifying number, such as drivers license number or passport number).

There are 23 categories of exempt entities, ranging from issuers of public securities, certain non-profit organizations and entities that exceed specific revenue and employee thresholds. Exemptions can vary depending on the specific provisions of the law.  Please talk to your attorney to determine if your company may be exempt.

Companies that fail to comply with the reporting requirements of the CTA may face civil and criminal penalties, including fines and imprisonment. Individuals who willfully provide false or misleading information may also be subject to penalties.

FinCEN Report is here to make the filing process easy so you don’t have to risk penalties associated with non-compliance.

While the CTA is aimed at increasing transparency in business ownership, it may raise concerns about the privacy and security of personal information. The law includes provisions to safeguard reported information and limit its disclosure to authorized entities.

Our FinCEN Report filing service has received a SOC-2 Type 1 report from an independent accounting firm that testifies to our data security and privacy compliance. Our platform is further certified by Breachlock with respect to data security and safety.

Our FinCEN Report filing service will help your company organize its reportable data. Once you have collected all the required information from your beneficial owners, you will be able to file your company’s initial BOI report directly with FinCEN through our secure filing service. You will receive a confirmation letter from FinCEN, confirming its receipt of your BOI report.

Our FinCEN Report service will securely save the data you included in your BOI report and will notify you if any of your beneficial owners change their personally-identifiable information in a way that requires you to amend your BOI report. You will be able to file your amended BOI report through our secure filing system with just a few clicks.

New companies formed on or after January 1, 2024 (but before January 1, 2025) must file an initial report within 90 days of formation. Companies existing before January 1, 2024 that are not exempt must report their beneficial ownership information no later than January 1, 2025.

If you own more than one company, or manage the compliance of many organizations, our system will be able to help you file for individual and/or multiple companies in the needed timeline easily and comprehensively.

Yes, the CTA applies to foreign-owned companies that conduct business within the United States and meet the reporting criteria. It is part of the U.S. government’s efforts to ensure transparency and prevent the misuse of anonymous entities for illicit purposes.

Our FinCEN Report platform can help foreign companies doing business in the United States file their initial BOI reports and remain in compliance with the CTA.

Get in the know! Download 5 Reasons to Get Started on CTA Compliance NOW

Getting compliance right is important for your business. Download 5 Steps to Get Started on CTA Compliance NOW to get moving today.