BOI Reporting
Streamlined Beneficial Ownership Reporting Platform for Businesses.
Make it easy for your clients to file beneficial ownership reports and efficient for your firm to manage.
With FinCenTec’s End-to-End Solution
Complete reports in 5 to 10 minutes using FinCenTec’s beneficial ownership reporting platform
FinCenTec simplifies the BOI report filing process with a streamlined approach that includes four steps for gathering information and one comprehensive review step. This ensures accuracy and efficiency for your firm. Process each report swiftly with complete visibility, automated reminders, and clear client explanations. Our secure platform allows a single junior staff member to efficiently manage hundreds or thousands of FinCEN reports for your clients.
Collect BOI Data
5 minutes per report
Clients complete all reporting activities directly on your site, allowing them to stay in close contact throughout the entire process. The platform guides them through the regulations and collects the necessary information for your firm. You can also provide any additional information required for the reporting process.
Gather Identification
No time required
Clients securely upload their documents directly to their report dashboard, making them accessible to your firm for their FinCEN report.
Store & Review
5 minutes per report
Review is an integral part of the process where both clients and firms can access and confirm the report before submitting it to FinCEN. All records are securely stored on the platform, ensuring easy access at all times.
File to FinCEN
No time required
Reports are directly submitted to FinCEN through a secure System-to-System API. This ensures quick and accurate transmission, reducing delays and errors, and maintaining compliance with regulatory requirements.
Remind & Track
No time required
Automated reminders keep clients informed and ensure that reports are progressing. You can easily download data, track report statuses, and manage multiple clients efficiently from your dashboard with just one staff member.
Without FinCenTec’s End-to-End Solution
Expect to spend two to three hours per report without BOI report filing software
Without an efficient FinCEN beneficial ownership reporting solution in place, each BOI report will require two to three hours of staff time to complete. This involves navigating complex processes, using disconnected systems, addressing client queries, and managing mandatory reports for numerous clients.
Collect BOI Data
45+ minutes per report
Without BOI filing software, your firm will need to create forms to gather information from clients. Given the complexity of the regulations, substantial time will be required to assist each client in understanding the FinCEN requirements and definitions for key data.
Gather Identification
30 minutes per report
Proper FinCEN reporting requires document images. Your firm will need to establish a system to efficiently collect, manage, and secure these documents from clients, ensuring they are stored with the report details.
Store & Review
30 minutes per report
Your firm will need to create an information management system to store BOI data, verify the accuracy of the information, and conduct a review call with each client before submission to FinCEN.
File to FinCEN
30 minutes per report
Without BOI software, staff will need to manually transfer information to the FinCEN system and obtain a confirmation to share with clients. Additionally, records will need to be maintained in a separate system for client information storage.
Remind & Track
30 minutes per report
Managing a large number of clients without an automated system requires significant time for sending reminders, assisting clients through each step of the submission process, manually storing reports, and maintaining ongoing communication. This manual approach is time-consuming and inefficient, often leading to delays and increased workload.