Allow CTA Resources to assist you with your new FinCEN Reporting Requirements
Call us at (480) 780-0140
Credit: United States Department of the Treasury. This video advises that new companies have 30 days to file their initial report. FinCEN has since revised the policy to allow 90 days for the filing of the initial report.
Why should I have a professional service firm assist me with this requirement?
If you do your own taxes, this is a task you might want to take on yourself. For most business owners, having a firm that is well versed in the requirements of the law and is available to consult with you to ensure the report is filed timely and accurately is worth the cost.
Why choose CTA Resources?
We are part of a full service advisory firm, AlphaTrust Advisors. We don’t leave you to do it yourself. We consult with you and handle the filing.
You will have access to an online portal where you can view all of your entities and filings. The FinCEN website provides no access to your prior filings or proof of filing once you leave their page.
We handle updates and corrections for you. Updates to your report are required within 30 days of any reportable change, of which there are many.
We guarantee our work with a $15,000 Accuracy Guarantee.
Frequently Asked Questions
Who has to file?
Most small entities, with a few exceptions, must file. Small entities are those with less than 20 full-time employees or less than $5 million in revenue. Special rules apply for certain types of work and international operations. Subsidiaries and holding companies must also file unless exempted individually.
When do i have to file?
Entities established before 2024 must file by December 31, 2024. Entities established on or after January 1, 2024, have just 90 days from their formation date to file.
what are the penalties for not filing?
Failure to file can result in a civil penalty of up to $500/day. Willful non-compliance may lead to criminal charges. It’s a risk not worth taking!
How do i know my report has been filed accurately?
CTA Resources offers a $15,000 Accuracy Guarantee. If you follow our advice and provide the necessary information in a timely manner, we will reimburse you for any penalties that may be assessed for a late or inaccurate report up to $15,000. Terms and conditions apply, please see our engagement letter for full details.
How do i get started?
Schedule your 15 minute consultation by using our online scheduling tool or call our offices at 480-780-0140.