The Corporate Transparency Act requires over 40 million corporations, LLC, and other entities to report their Beneficial Ownership Information (BOI) to FinCEN by end of 2024. Non-compliance puts businesses at risk of over $500/day in fines up to $10,000 and/or up to 2 years imprisonment per violation.
Our plan enables your business to get and stay compliant with FinCEN reporting requirements. Receive timely alerts and notifications to avoid hefty fines starting at $500/day. Don’t worry about tracking expiring driver’s licenses or passports—we handle it for you.
For more information on BOI or to use the government’s process, please see the government’s FinCEN website. See why you should use NCS BOI Filing over the government’s system.
| Government Wesbite | NCS BOI Filing | |
|---|---|---|
| Average Time to Complete | 45+ minutes | 10 minutes |
| Filing Updates: Corrections & Changes | No history or prior filings stored – updates require complete new submissions | History stored – only update what has changed |
| Coordinated Filings for Multiple Beneficial Owners | Must sit simultaneously at the same computer to submit or have someone complete on behalf of all BOIs | Workflow and routing enables each BOI to enter their data |
| Providing ID’s | Entering BOI data & providing ID’s are two distinct steps | Provide ID (snap pic from mobile or upload on PC) all BOI data auto populates (no data entry required) |
| Notifications for Required Filing Updates | None | Notifications provide nudges of when documents are expiring and updated filings may be required. |