Why file a Beneficial Ownership Report?
Get compliant
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).
Make things easier
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.
File with confidence
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.
What is beneficial ownership reporting?
You are required to file identifying information about the individuals who directly or indirectly own or control your company with the Financial Crimes Enforcement Network in order to satisfy requirements under the Corporate Transparency Act.
The Beneficial Ownership Information Reporting Rule goes into effect Jan. 1, 2024, and it’s important to understand this new law given the severity of criminal and civil penalties for failure to file, which include imprisonment and fines.
How to complete the Beneficial Ownership Report in 3 easy steps
Tell us about your beneficial owners
Answer a few simple questions about the individuals who own or control your business so your report is personalized and accurate.
We create and file the report for you
Receive confirmation of your filed report
Once we file your personalized report with the Financial Crimes Enforcement Network (FinCEN), we’ll provide confirmation.
What is the Beneficial Ownership Information Reporting Rule?
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.
Who is a beneficial owner?
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:
- 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 company
Why get help with the Beneficial Ownership Report?
Avoid serious penalties
Prevent criminal and civil penalties, including imprisonment for up to two years and/or fines up to $10,000, and civil fines up to $500/day.
Focus on what matters
Enjoy peace of mind now
Feel confident and secure about your business, knowing you’re in compliance with the Financial Crimes Enforcement Network (FinCEN).
COMPLIANCE REMINDER: The willful failure to report complete beneficial ownership information to FinCEN, the willful failure to update beneficial ownership information provided to FinCEN when previously reported information changes, or the willful provision of false or fraudulent beneficial ownership information to FinCEN, may result in civil or criminal penalties. A person may also be subject to civil or criminal penalties for willfully causing a reporting company to report incomplete or false beneficial ownership information to FinCEN.
