Beneficial Ownership Information Hub

Introducing our latest resource hub brought to you by the South Carolina Association of CPAs, dedicated to unraveling the intricacies of beneficial ownership information (BOI). Stay at the forefront of your profession, equipped with essential insights to adeptly navigate the ever-evolving corporate governance landscape.

BOI Reporting Resources


FinCEN’s Beneficial Ownership Information Reporting Rule

Source: FinCEN

View Reporting Rule

FinCEN’s Frequently Asked Questions

Source: FinCEN

View FAQS

CAMICO’s Client Notification Template

Source: CAMICO

View Template

CAMICO’s Engagement Letter Language

See CAMICO’s below suggested engagement letter language:

Management is responsible for Client’s compliance with the Corporate Transparency Act (“CTA”), if applicable to its business, and for ensuring that any required reporting of beneficial ownership information is timely filed with the Financial Crimes Enforcement Network (“FinCEN”) as required by the CTA. As (Firm) is not rendering any legal services as part of our engagement, we will not be responsible for advising you regarding the legal or regulatory aspects of your company’s compliance with the CTA, nor are we responsible for the preparation or submission of Client’s beneficial ownership information reports to FinCEN. If you have any questions regarding Client’s compliance with the CTA, including but not limited to whether an exemption may apply to your organization or to ascertain whether relationships constitute beneficial ownership under CTA rules, we strongly encourage you to consult with qualified legal counsel experienced in this area.

Source: CAMICO

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BOI Insights


Beneficial Ownership Information

By Ian Redpath, JD, LLM This article originally appeared in the Summer 2023 edition of the South Carolina CPA Report. The beneficial ownership information (“BOI”) reporting provisions were part of …
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BOI Assistance


SnapBOI

SnapBOI offers a BOI reporting platform for accountants, attorneys, payroll organizations, business advisors, and other trusted professionals.

Visit SnapBOI’s Website

Corpag

Corpag simplifies BOI compliance for CPA firms by reducing errors, streamlining the filing process, and mitigating the risk of penalties and liability, allowing firms to focus on higher-value advisory services.

Visit Corpag’s Website