BOI Reporting Platform For Attorneys
Streamline CTA Compliance for Law Firms
Our BOI filing platform revolutionizes your CTA compliance workflow, enhancing efficiency, accuracy, and client protection. Leverage this tool to create a new revenue stream while delivering indispensable services to your clientele.
BOI Report Filing Software
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Software Made By the Same Company That Manages Filings For
Is CTA Compliance Burdening Your Firm and Exposing Clients to Risk?
Legal professionals face unique challenges with the Corporate Transparency Act, particularly in managing formations and transactions that necessitate BOI reporting. Our platform offers seamless management for clients across various practice areas, including real estate, estate planning, business law, taxation, and venture capital/private equity.
Swift Filings for Every Formation
Complete FinCEN reports in minutes using our streamlined workflows, turning this new requirement into an efficient revenue source.
Built-in Client Education
Ensure client compliance effortlessly with our automated reminder system, keeping them informed about reporting requirements.
Robust Data Protection
Opt for our SOC2 secure solution to safeguard client information for future filings and store essential confirmation records.
Scalable Filing Management
Our comprehensive dashboards provide full visibility of all files and deadlines, allowing a single team member to effectively support numerous clients.
Boost Revenue Efficiency
Utilize our seamless automated filing tools to complete CTA compliance work in a fraction of the time, without the need for additional personnel.
Minimize Errors and Penalties
Our background data-verification tools automatically eliminate report errors, ensuring the highest level of accuracy for your firm.
Your All-in-One Corporate Transparency Act Filing Solution
Optimize Your FinCEN Filing Workflow
Complete reports in just five minutes using our platform. Maintain ongoing CTA compliance with intuitive, automated tools, eliminating the need for extra staff.
Deliver Flawless BOI Reporting Automatically
Protect your clients from FinCEN penalties with our highly accurate reporting tool. Our platform’s automated data checks, client approval process, and final reviews ensure the integrity of every filing.
Automate Long-term CTA Compliance
Customize automated client reminders to guide them through mandatory reports in their secure portal and keep them updated on requirements.
Generate New Revenue Through FinCEN Filing
Transform CTA compliance into a profitable service, enhancing client loyalty, satisfaction, and your firm’s bottom line.
Comprehensive Support for Firms and Clients
Our white-labeled solution includes user-friendly portals and dashboards, offering human support and full access for both your firm and invited clients.
Frequently Asked Questions About BOI Reporting for Law Firms
Which legal practice areas are most affected by BOI reporting?
What are the essential steps for each BOI report at your firm?
BOI reporting involves eight key steps for Corporate Transparency Act compliance:
1. Client Notification
2. Information Gathering
3. Secure ID Image Collection
4. Client Review and Approval
5. Data Transfer to FinCEN
6. FinCEN Filing Transcript Retrieval
7. Record Maintenance
8. Update Monitoring and Management
Our platform automates these steps, enabling efficient management of numerous clients through intuitive dashboards, client portals, and automated tools.
What are typical law firm fees for initial BOI reports?
Based on extensive industry data, law firms generally charge between $400 to $600 for initial Beneficial Ownership Information (BOI) reports. This pricing reflects the complexity of filings, risk management, and the professional standards of legal services.
Subsequent updated reports often cost $200 to $300. Many firms offer discounts for clients with multiple entities.
How do firms structure fees for ongoing CTA compliance?
Many firms offer structured annual service packages for ongoing Corporate Transparency Act (CTA) compliance. These typically cover data storage, record maintenance, and prompt updating of BOI reports.
Common billing models include:
1. $50 per year for basic services with discounted rates for updates.
2. $200 per year including up to two updated reports annually.
What commonly triggers the need for updated reports?
Key triggers for updated BOI reports include:
– Changes in beneficial owners’ addresses
– Ownership structure modifications
– Company office relocations
– Updates to owner ID numbers
– Business sales or significant ownership changes
– New DBA registrations
How are firms handling initial reports for new entity formations?
Entity creation initiates the countdown for BOI report filing. Our platform simplifies this process by allowing easy upload of known entity information and quick collection of any missing details from clients.
To avoid personal information inclusion, law firm staff should obtain individual FinCEN IDs for “company applicant” roles.
What BOI reporting scenarios are typically handled by attorneys rather than accountants?
Attorneys often take the lead in:
– Providing initial CTA information during entity formation
– Explaining complex CTA requirements for entities with multiple share classes or intricate management structures
– Managing transactions that trigger updated reports (e.g., mergers, divorces, share sales, bankruptcies)
What are the consequences of failing to file or update reports?
FinCEN imposes severe penalties for non-compliance, including daily fines of $500, penalties up to $10,000, and potential imprisonment for up to two years.
How it Works
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Complimentary Demo
Select a convenient time to discuss your beneficial ownership reporting needs with our team.
