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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.

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    Effortless BOI Filing

    SecureFILE is designed for small to mid-sized businesses, with a lightweight interface for quick, easy BOI filing.

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    All-in-One Simplicity

    SecureFILE streamlines your entire filing process
    by housing everything securely in the cloud in one intuitive platform.

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    Meet Compliance with Confidence

    SecureFILE guides you through each step to meet BOI reporting compliance and avoid costly mistakes.

Overview

Centralize your proof of compliance.

  • Lightweight Filing

    Say goodbye to clunky processes – this lightning-fast filing experience is like a breath of fresh alpine air.

    Breathtakingly Fast

    Blaze through BOI filings with meticulous flows optimized for your unique business.

  • Meet SecureFILE

    Complete any filing in minutes with the
    streamlined entity menu.

    Maximum Security

    Encrypted cloud storage eliminates data from being stored on your hard drive for peace of mind.

Pricing

Secure FIlE
Initial Report + 1 Year of updates: $149 $99

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Initial Report

$149 $99

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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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SecureFILE

Initial Report + 1 Year of updates: $149 $99

  • Initial report
  • Unlimited Updates of Corrections
  • Annual renewal
  • Retain data for easy updates
  • Guided terminology walkthrough
  • Auto-populate for multiple entities
Get Started (Save $50)

What questions can we answer?

What Is The CTA?

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.

What Individuals Need To Be Reported On A Company’s Beneficial Ownership Information Report (BOIR)?
  • Beneficial owners
  • Company applicants (if the company was formed or first registered to do business in the U.S. in 2024 or later)
Who Qualifies As A Beneficial Owner?

A beneficial owner under the CTA falls under 2 categories:

  1. An individual who has a minimum of 25% ownership interest in the reporting company, meaning they directly or indirectly hold a significant share of the company.
  2. An individual who exercises substantial control over the reporting company. Here are the three ways one falls under this category:
  • They are a senior officer.
    • An individual serving as a senior officer of a reporting company, such as a president, CEO, COO, CFO, or individuals with similar functions.
  • They have appointment or removal authorities of certain personnel.
    • An individual with the authority to appoint or remove any senior officer of the board of directors or a similar body within the reporting company.
  • They have substantial decision-making powers.
    • An individual with the power to direct, determine, or substantially influence important decisions made by the reporting company.
Who Is A Company Applicant?

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.

What Information About Individuals Will Be Reported On A Company’s BOIR?

There are 5 pieces of information that will need to be reported to FinCEN about a beneficial owner (and company applicant if applicable):

  1. Full legal name
  2. Date of birth
  3. Current residential address (company applicants may use the business street address of where they practice).
  4. Image of the ID doc from #5 below
  5. Unique identifying number from one of the following nonexpired, acceptable documents:
    • U.S. passport
    • State, local, or Tribal identification document
    • State-issued driver’s license
    • If an individual lacks all three kinds of documents above, then a foreign passport can be reported.
What Is My Deadline To File?
  • If your entity was in existence before the effective date of the final rule (January 1, 2024), you have until December 31, 2024, to submit your BOI report.
  • If your entity is created on or after January 1, 2024, and before January 1, 2025, you must file your BOI report within 90 days of its establishment.
  • If your entity is created on or after January 1, 2025, you must file your BOI report within 30 days of its establishment.
How Often Do I Have To File?
  • Entities must file an initial report based on the deadlines above with beneficial ownership information and company applicant information, if applicable. An updated BOI report (BOIR) must be filed if any change in beneficial owner (BO) information occurs, such as a change in the BO’s residential address, the death of a BO, and/or a management decision resulting in a change in beneficial ownership. The updated report needs to be filed within 30 days of the change. Note: Reporting companies do not need to file updated information about their company applicants, only about their beneficial owners.
  • If a mistake is made on a BOIR, a corrected report must be filed within 30 days of the discovery of the mistake.
If My Business Needs To File Who Is Required To Fill Out And Submit The BOIR?

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:

  1. Securities reporting issuers
  2. US Governmental Authorities
  3. Banks
  4. Credit Unions
  5. Depository Institution Holding
  6. Money Service Businesses
  7. Broker or Dealer in Securities
  8. Securities Exchange or Clearing Agency
  9. Other Exchange Act Registered Entities
  10. Investment Companies or Advisors
  11. Venture Capital Fund Advisors
  12. Insurance Companies
  13. State-licensed Insurance Providers
  14. Commodity Exchange Act Registered Entities
  15. Certain Accounting Firms
  16. Public Utilities
  17. Financial Market Utilities
  18. Pooled Investment Vehicles
  19. Tax-exempt Entities
  20. Entity Assisting a Tax-exempt Entities
  21. Large Operating Companies
  22. Subsidiary of Certain Exempt Entities
  23. Inactive Entities

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.

The Company Applicant Gave Me Their FinCEN ID To Put On The Reporting Company’s BOIR, Do Beneficial Owners Need One Too?

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.

What Penalties Do I Face If I Don’t File A BOIR For My Company?

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.

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