As part of the Corporate Transparency Act, a new federal mandate requires that businesses file a Beneficial Ownership Information Report to avoid criminal and civil penalties. We can help you to file in a compliant and stress-free way for only $99.
Understanding a new law that carries civil and criminal penalties, including imprisonment and fines, can be daunting. Eliminate the worry and risk of meeting this requirement with our easy and accurate report filing.
Satisfy the Corporate Transparency Act requirement with our help. We’ll file the information about the individuals who own or control your business with the Financial Crimes Enforcement Network (FinCEN).
Save time sifting through the complexities of a new federal law with our fast and easy report filing. We’ll ensure your filing meets all the requirements of the Corporate Transparency Act.
Get peace of mind with our accurate, compliant filing. You can be sure that we’ll include all information required by FinCEN and the new law. Plus, you’ll receive confirmation upon completion of the report.
Get your BOIR filed by us. We'll send your info to FinCEN so you comply with the new rule under the Corporate Transparency Act.
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Get BOIR and Compliance Filings, plus help with licenses and permits to operate legally at the federal, state, county, and city levels.
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Prevent criminal and civil penalties, including imprisonment for up to two years and/or fines up to $10,000, and civil fines of up to $500/day.
Concentrate on your business instead of navigating the complexities of a new federally mandated rule under the Corporate Transparency Act.
Feel confident and secure about your business, knowing you’re in compliance with the Financial Crimes Enforcement Network (FinCEN).
The Beneficial Ownership Information Reporting Rule under the Corporate Transparency Act is a new filing requirement of the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury.
The rule creates transparency around company ownership structures and helps the federal government prevent financial crimes and fraud, such as money laundering, corruption, human trafficking, drug trafficking, tax fraud, and fraud against employees, customers, and other businesses.
Beneficial ownership information reporting supports the ongoing focus and efforts of the U.S. government to deter corporations who would hide or benefit from actions that harm others.
A beneficial owner under the Corporate Transparency Act is an individual who directly or indirectly: (1) owns or controls at least 25% of your company’s ownership interests, or (2) exercises substantial control over your business. Common examples of someone that exercises substantial control can include the following:
Each business is responsible for filing a Beneficial Ownership Information Report which includes all of 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, or who misleads the Financial Crimes Enforcement Network, will face personal liability in the form of both criminal and civil penalties for noncompliance with the Corporate Transparency Act.
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.
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. We can help you ensure accurate filing with a simplified reporting and filing process, satisfying the relevant law.
The Beneficial Ownership Information Reporting Rule went into effect Jan. 1, 2024, so it’s important to get informed now about how to satisfy the requirements. The deadline varies depending on your date of formation, which we can help you determine, and we can help you stay on top of the process with notifications leading up to your filing deadline.
Generally, business entities formed before Jan. 1, 2024 will have until Dec. 31, 2024 to file. Business entities formed on or after Jan. 1, 2024 will have 90 days after formation to file. Business entities that amend their formation documents on or after Jan. 1, 2024 will have 30 days to submit a new report.
Taking care of this requirement will help you avoid criminal and civil penalties for failing to comply, including imprisonment for up to two years, a fine of up to $10,000, and/or a fine of up to $500 per day.
With our Beneficial Ownership Information Report service, you’ll be notified when it's time to file your report. We’ll request the information needed to file, and we’ll create an accurate report that includes the identifying information about the individuals who own or control your business, satisfying the beneficial ownership information reporting requirement.
Then, we’ll file for you in a timely manner with the Financial Crimes Enforcement Network (FinCEN) and confirm successful completion for your peace of mind that you’ve satisfied the compliance requirement.
The Beneficial Ownership Information Report includes several pieces of information about the reporting company, such as its full legal name, any trade or DBA names, its address, federal tax ID number (or EIN), and the jurisdiction where it was created.
The report also includes the owners’ full legal names, birth dates, current addresses, images of acceptable identification documents (such as a passports or driver's licenses), along with the issuing jurisdiction and the document's ID number. If the person who filed your entity formation documents (known as the applicant) is not one of the beneficial owners, the applicant must also provide the same information as the beneficial owners.
Using our service simplifies the process for reporting and filing the required information with the Financial Crimes Enforcement Network, saving you time and stress related to deadlines and accurate filing of your report.
Owners of a limited liability company (LLC) need to file the new report with the federal agency and provide basic contact information about the company and its owners (known as members). This requirement applies to single-member and multi-member LLCs.
Most small business entities are not exempt from this requirement. Entities that are exempt from beneficial ownership information reporting include publicly traded companies, tax-exempt nonprofit organizations, certain large operating companies, and others that meet specific requirements. The Financial Crimes Enforcement Network lists 23 types of exempt entities that do not qualify as reporting companies and certain individuals that can’t be listed as a beneficial owner under the reporting requirement.