Business or entity owner? Your professional has saved you $50 on your initial BOI report! SecureFILE is designed to simplify BOI reporting for your small to mid-sized business, walking you through step-by-step and securely keeping your important information in one place. Ultimately, SecureFILE allows business or entity owners to confidently comply with FinCEN.
Overview
Say goodbye to clunky processes – this lightning-fast filing experience is like a breath of fresh alpine air.
Blaze through BOI filings with meticulous flows optimized for your unique business.
Complete any filing in minutes with the
streamlined entity menu.
Encrypted cloud storage eliminates data from being stored on your hard drive for peace of mind.
Pricing | Secure FIlE | FinCEN.gov |
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Initial Report |
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Unlimited Updates and Corrections |
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Annual renewal | $99 |
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Automated update notifications |
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Retain data for easy updates |
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Guided terminology walkthrough |
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Guide/checklist on what you need to file |
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Encrypted email for beneficial owners to collect their data |
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Auto-Populate for multiple entities |
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Start/Stop info saved |
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Quick update and resubmit |
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Initial Report + 1 Year of updates: $149 $99
The CTA or Corporate Transparency Act is part of the National Defense Authorization Act. Its goal is to fight against financial crime, money laundering, and illicit financial activities by enhancing corporate transparency through beneficial owners and company applicant reporting to the Financial Crimes Enforcement Network (FinCEN). The Beneficial Ownership Information (BOI) final rule is what outlines filing requirements of qualifying entities – reporting companies – to file certain information about themselves and their owners to FinCEN.
A beneficial owner under the CTA falls under 2 categories:
The term company applicant refers to individuals who directly file the document that creates the reporting entity or, in the case of a foreign reporting company, the individual who files the document to first register the entity for business in the United States. It also includes individuals primarily responsible for directing or controlling the filing of the relevant document by another party. Company applicants are often lawyers and/or paralegals, and there can be no more than 2 company applicants on a single Beneficial Ownership Information Report (BOIR). Company applicants are only required to be reported on a BOIR if the entity in question was created on or after January 1, 2024.
There are 5 pieces of information that will need to be reported to FinCEN about a beneficial owner (and company applicant if applicable):
No specific person in an organization is required to fill out and/or submit its BOIR. Anyone authorized to act on behalf of the reporting company can submit the required information – this could be a CFO, administrative employees, CPAs, or attorneys.
What Organizations Are Exempt From Filing?
There are 23 exempt entities that do NOT need to fulfill the beneficial ownership information (BOI) reporting requirement:
If you are unsure if your company falls under any of these exemptions, sign up and use our Exemption Wizard, at no charge, to see more information about these types of exempt entities. Otherwise, consult with your professional to see if your company will need to file.
No, individuals are not required to apply for a FinCEN Identifier (FinCEN ID). If you are an individual who wishes to obtain one, you should do so at fincenid.fincen.gov. After providing the required information directly to FinCEN, you will get a unique, 12-digit number that you would put on any BOIR that you are a beneficial owner for in place of the 5 pieces of required identifying information.
Entities and/or individuals that violate reporting requirements may face fines of up to $591 per day for each day the report is not submitted. Additionally, criminal penalties may include fines of up to $10,000 and imprisonment for up to two years.