Corporate transparency act

BOI Reporting

Safely enter your beneficial ownership information through our easy to use online forms.

Starting January 2024, we'll handle the preparation and submission of your filings, saving you up to three hours per report.*

Simplify your reporting process. Our fee covers up to four initial, updated, or corrected reports, eliminating the need for tracking and filing.

$199 PER BUSINESS ENTITY

*FinCEN predicts that reading and filling out the Beneficial Ownership Information Report may require as much as three hours per entity.

Beneficial Ownership Reporting made Simple

Starting 2024, millions of businesses in the United states will need to report beneficial ownership information (BOI).

Fincen Alliances' online reporting system is the easiest way to stay ahead of these requirements.

  • Secure online data collection

  • Centralized storage that simplifies the tracking and updating of your information, making it easier to manage.

  • Receive automated notifications to stay informed about all ongoing filing requirements.

  • Support for initial, update, and correction filings.

Spend more time focused on YOUR core business and less time worrying about filing requirements.

Penalties And Consequences?

Delving into the intricate web of regulations, it's crucial to grasp the gravity of tardy government filings. From penalties and interest charges to potential legal repercussions, late submission can trigger a cascade of consequences.

These may include the loss of benefits, negative impacts on credit ratings, and even the suspension of licenses or permits.

Penalties

Late filing often incurs penalties, which can vary depending on the type of filing and the government agency involved. These penalties may be fixed amounts or calculated based on the amount owed.

Loss of Benefits

Late filing can result in a loss of benefits or entitlements that are tied to timely filing. For example, individuals who file their taxes late may experience delays in receiving tax refunds or may miss out on certain tax credits or deductions.

Legal Action

In some cases, particularly for businesses or individuals with significant tax liabilities, late filing may lead to legal action by government agencies. This could include audits, assessments of additional taxes, or even criminal charges in cases of deliberate non-compliance.

Reputation Damage

Late filing can also damage the reputation of individuals or businesses, particularly if it becomes public knowledge. This can affect relationships with customers, suppliers, investors, and other stakeholders, leading to potential loss of business or opportunities.

Suspension of
Licenses or Permits

Certain government filings, such as business licenses or permits, may be subject to renewal on an annual or periodic basis. Failure to file these renewals on time could result in the suspension or revocation of the associated licenses or permits.

Increased
Scrutiny

Individuals or businesses that consistently file late or fail to meet their government filing obligations may be subject to increased scrutiny from regulatory authorities. This could result in more frequent audits or inspections, leading to further penalties or fines if deficiencies are uncovered.

Inability to Contest or Appeal

Failing to file government documents or reports on time may limit an individual's or business's ability to contest or appeal decisions made by government agencies. For example, missing deadlines for filing tax returns may prevent taxpayers from challenging assessments or disputing tax liabilities.

Negative Impact

on Credit

Unpaid taxes or penalties resulting from late filing can negatively impact an individual's or business's credit rating. This can make it more difficult to obtain loans, credit cards, or favorable terms on financial transactions in the future.

How we Work.

Fill out our easy-to-use online forms to order your BOI reporting service. We will gather all the necessary data points to complete your order and ensure you meet the compliance requirements effective January 2024.

Automated Reporting to FinCEN

1

Provide company information.

2

Collect beneficial ownership information and transmit data securely.

3

You will receive confirmation the initial filing has been completed and provide support if any changes are needed.

Keeping Reporting Information Updated

Reporting Beneficial Ownership Information isn't just a one-off task. Companies need to file additional reports with FinCEN whenever there are changes in beneficial ownership.

Moreover, any mistakes in the information provided must be corrected through updated filings. Unlike services from other providers, Fincen Alliance’s BOI Reporting Service includes up to four initial, updated, and corrected reports each year.

100% Money Back Guarantee

Reporting Beneficial Ownership Information is more than just a one-time filing. As beneficial owners change, companies must complete additional filings to notify FinCEN of the updates.

Additionally, information submitted in error must be updated via correction filings. Unlike the solutions offered by other providers, up to four initial, updated, and corrected reports are included in Fincen alliance BOI Reporting Service annually.

Frequently Asked

Questions

What is the Corporate Transparency Act (CTA)?

The Corporate Transparency Act (CTA) is a piece of legislation enacted in the United States as part of the National Defense Authorization Act for Fiscal Year 2021 (NDAA). The CTA aims to combat money laundering, terrorism financing, tax evasion, and other illicit financial activities by enhancing corporate transparency.

When does the Corporate Transparency Act come into effect?

The CTA's reporting requirement takes effect on January 1, 2024. From that date, FinCEN will start accepting reports of beneficial ownership information.

What information is required for Beneficial Ownership Reporting?

Essential information needed consists of the entity’s name, any trade or DBA names, state of incorporation, federal EIN, ID number from its home state's Secretary of State, the entity’s main U.S. address, full legal name of each beneficial owner, unique identifying number from a valid ID document, and more.

What does "beneficial owner" mean?

Beneficial owners are individuals who control or receive significant economic advantages from a legal entity.

BOI Reporting Service

  • Submit your beneficial ownership information

  • File initial, updates, and changes as needed

  • Ensure compliance with latest reporting requirements

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Fincen Alliance is a third-party company providing services to consumers and is not affiliated with any government entity. We do not offer tax, financial, or legal advice, and using our services does not create an attorney-client relationship. Fincen Alliance is not your legal representative and does not assess the legal accuracy or completeness of the information you provide. Please note that these services can be directly handled with government entities if you choose. Your use of our website is governed by our Terms of Use and Service Agreement.