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TurboCTA makes Beneficial Ownership Information reporting fast and easy for your company.
TurboCTA makes FinCEN filings hassle free. Learn about the CTA, check your company, and file online.
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Compliance alerts for FinCEN updates |
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Complete filing through TurboCTA platform |
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Fast updated report filings |
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Proof of compliance certificate |
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Included filing support |
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Compliance question support |
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CPA or Enrolled Agent review |
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Select Standard or Plus to get started and complete your FinCEN filing.
Enter your email for free compliance notifications for your business.
The first year of the filings will likely lead to updates and changes as FinCEN begins accepting reports. Subscribe to compliance updates below to safeguard your business. We never share emails or spam.
Most likely, Yes. Companies are only exempt from reporting if they have over $5M in annual sales AND 21 or more full-time employees. There are a few other exemptions, but most companies will not qualify for these. You can check your company’s filing requirements and exemptions with our Check my Company tool.
Corporate Transparency Act reports are due by the end of 2024 for companies that exist prior to 2024. New companies formed after January 1st, 2024, will have 90 days to file their initial reports.
The Corporate Transparency Act requires companies to file reports called “Beneficial Ownership Information” (BOI) reports to FinCEN, a federal agency under the Department of the Treasury.
No. Reporting companies will need to file updated reports within 30 days if information about the company or a beneficial owner changes to avoid penalties. You can file future updated reports easily from your TurboCTA dashboard.
Beneficial Ownership Information reports include information about the reporting company and every beneficial owner. Company information includes company name, business operations address, formation information, DBAs, and tax identification numbers. Beneficial owner information includes name, dates of birth, addresses, and identification documents.
A Beneficial Owner is any individual who owns 25% or more of a reporting company or can exert substantial control over the entity. This definition includes equity owners or even managers without ownership. FinCEN’s definition is designed as a catch-all to include any individual who controls a reporting company or benefits from the entity.
Not filing or filing incorrect information can incur penalties, including $10,000 files and up to two years in jail. The CTA was passed to prevent money laundering, so the Department of the Treasury takes filings very seriously.
You can use TurboCTA to file your FinCEN report for $99 or $149.
