FinCEN Reporting

Beneficial Ownership Information Reporting & What You Need to Know

A new federal law in effect as of Jan. 1, 2024, has a significant impact on those who form, or have an interest in, a state-registered legal entity. The Beneficial Ownership Information (BOI) reporting by the Corporate Transparency Act of 2021 requires providing information and copies of government-issued identification documents to FinCEN under pain of civil or criminal penalty. The purpose of the BOI rule is to provide FinCEN with the information needed to combat the illicit use of our financial system.

BOI Reporting - It's Here!

The BOI E-Filing System is now live. FinCEN has begun accepting BOIRs electronically through its secure filing system.

File a BOIR Today!

Steps to Get Ready

Watch the Disclosing Beneficial Ownership: The Corporate Transparency Act webinar.
FinCEN's BOI Resources: https://www.fincen.gov/boi
FinCEN's BOI Frequently Asked Questions: https://www.fincen.gov/boi-faqs
FinCEN's BOI Small Entity Compliance Guide: The essential guide for Members to understand beneficial ownership reporting. Download
FinCEN Identifier Application Filing Instructions: Download
- To request a FinCEN identifier, first obtain a login.gov account and sign in through: https://login.gov/create-an-account
Take a look at the Fund Concept article: Tsunami Alert! BOI Reporting Begins January 1, 2024.

On-Demand Training

Disclosing Beneficial Ownership: The Corporate Transparency Act - Register Now

The IRS’ Financial Crimes Enforcement Network (FinCEN) is tasked with the elimination of money laundering activity. Toward that end, FinCEN has regulations which require banks and...

FinCEN Reporting: BSA E-Filing Account Setup - Watch Now

Members filing Currency Transaction Reports (CTR) must first be granted access to FinCEN’s E-Filing portal. Setting up a new account is explained in this recording. The...

FinCEN Reporting: How to Complete a Currency Transaction Report - Watch Now

Members filing Currency Transaction Reports (CTR) to comply with the mandate of a Geographic Targeting Order will find that process demonstrated and explained in this recording.

Helpful Links

Questions

Send us your questions and we will get back to you as soon as we can. Help us learn about the issues you are encountering in your practices, which in turn guides how we can best support you.

Email: FinCENinfo@thefund.com