We Prepare & File FinCEN Reports Required by the Corporate Transparency Act

The purposes of this website are to:

  1. Warn entity owners that a federal law effective January 1, 2022, called the Corporate Transparency Act (CTA),  may cause their entity to be fined $500/day by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury if the entity fails to file a FinCEN report that discloses information about the entity’s beneficial owners.
  2. Disclose the 30 types of entities that are exempt from the CTA.  Most entities that exist in the U.S. are not exempt and must file a FinCEN report.  An entity that must file a FinCEN report is called “reporting company.”
  3. Describe the information a reporting company must include in its FinCEN report about each of its beneficial owners.
  4. Define “beneficial owner.”
  5. Convince reporting companies to hire us, FinCEN Filer, LLC, to assist them in collecting the information that must be disclosed, preparing the FinCEN report and filing the report with FinCEN so the company will not be fined $500/day.

What is the CTA?

The CTA requires all “reporting companies” to file a report with the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury that discloses information about the beneficial owner or owners of the reporting company and the person who created the company.  Failure to file a timely report is a $500/day fine.

Learn more . . .

Is Your Company Exempt?

Most, but not all, companies that exist in the United States are required by the CTA to file a report with FinCEN that discloses information about the company’s “beneficial owners.”  See the list of 30 types of entities that are exempt from the CTA and that do not have to file a FinCEN report.  If your company is not one of the 30 types of companies that are exempt from the CTA then it must file a FinCEN report before the due date or be subject to the $500/day fine.

Report Due Dates

There are three different CTA report due dates.  The due dates depend on whether the company was formed before 2022 or after 2021.  There is also a requirement that reporting companies must file an amended report within thirty days after a change in information contained in a previously filed FinCEN report.

Learn more . . . 

Report Contents

Here are the five items of personal information all reporting companies must disclose in their FinCEN reports about each of the company’s beneficial owners and the reporting company’s “applicant.”  The applicant is the person who signed the company’s formation document filed with the state in which the company was formed.

Services

We prepare and file initial and amended FinCEN reports for reporting companies.  We collect information about beneficial owners and the applicant and file a reporting company’s initial and amended FinCEN report.  We also offer a post filing service that reminds reporting companies and their beneficial owners when the company needs to file an amended FinCEN report if information in the most recent report changes.

Learn more . . . 

Newsletter

If you want to learn about the  Corporate Transparency Act (CTA) and stay informed about CTA law and regulation developments you should subscribe to our free CTA email newsletter.

Subscribe here . . .