Reporting Company
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Reporting Company

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An entity or business qualifies as a reporting company when conducting business within the United States, except when it falls under the category of an exempt entity.

Who Must File a FinCEN Report?

The Corporate Transparency Act (CTA) mandates that all “reporting companies” must submit a report to the Financial Criminal Enforcement Network (FinCEN) of the U.S. Treasury, failure to which may result in a daily fine of $500. The deadline for filing depends on the formation date of the company:

Companies formed before January 1, 2024, have until January 1, 2025, to file their FinCEN report.

Companies formed after December 31, 2023, must file their FinCEN report within thirty days from their formation date.

Owners of entities like limited liability companies (LLCs), professional limited liability companies (PLLCs), corporations, professional corporations (PCs), limited partnerships (LPs), limited liability partnerships (LLPs), limited liability limited partnerships (LLLPs), or business trusts, also known as statutory trusts or Massachusetts trusts, should determine whether their company falls under the category of a CTA reporting company. This knowledge is essential to take timely action and avoid the $500-per-day late filing penalty.

Important note: The majority of entities formed in the U.S., or those conducting business within the U.S., are considered reporting companies under the CTA, and they must file a FinCEN report. To simplify the process, reporting companies can engage our services at CTA Filing Solution, LLC, to:

Gather the necessary CTA-required information about the company, its beneficial owners, and the individual responsible for its formation.

  • Prepare the company’s FinCEN report.
  • Submit the report to FinCEN.
  • File an amended FinCEN report when previously submitted information undergoes revisions.

This is our expertise, and hiring us as your company’s CTA protector ensures peace of mind, avoiding the risk of FinCEN imposing a $500-per-day fine for failure to file the initial FinCEN report or any subsequent amended FinCEN report.

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For more information and a quote for your company

For more information and a quote for your company