HOW IT WORKS

CTA: Corporate Transparency Act

  • The CTA requires most startups to file an informational report (BOI filing) with the Financial Crimes Enforcement Network (FinCEN)
  • The act is intended to prevent money laundering, terrorist financing, and other financial crimes
  • Initial BOI filings require information on the entity and personal information of the “beneficial owners” (officers, major shareholders and decision makers)
  • Follow-on BOI filings are also required, within 30 days, for any change to the previously reported data
  • Fines of up to $10,000 will be levied for late or misleading filings

HOW WE CAN HELP

Accountalent can handle your filings

  • Rely on your trusted tax and accounting experts for BOI filings
  • Reporting aligned with the latest CTA developments
  • Monitoring services to ensure changes are reported within 30 days
  • Previous BOI filings maintained to allow for easy update reporting
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Key Dates

  • January 1, 2024 – Act goes into place
  • December 31, 2024 – initial filing due for entities established before 2024
  • 90 days after entity creation – initial filing due for entities established on or after January 1st, 2024
  • 30 days after change – follow-on filings due for entities with changes, post previous filing

$399 [er year. 12 months of monitoring service with unlimited filings

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Get Started Today!

Got questions? We’re here to help. Discuss your needs with us.
[email protected]
(603) 540-0351

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