Transform the five-step CTA report filing into a streamlined procedure for your firm. With FincenFetch, swiftly process each report in mere minutes, benefiting from complete report transparency, automated notifications, and accessible explanations for clients. This efficiency-focused, secure platform enables even one junior staff member to efficiently handle hundreds to thousands of FinCEN reports for your clientele, making CTA reporting a seamless and straightforward task for your firm.
With FincenFetch CTA software, quickly send an invite link to your clients, leading them to a simple process that explains the regulation and gathers the necessary information for your firm. You can add any information for them from your firm’s dashboard as well.
Clients can safely upload their documents to their reports directly through the CTA filing tool, making them accessible to your firm and ready for their FinCEN report.
Reviews and data storage are integrated into the workflow, allowing both clients and firms to verify the report before submitting it to FinCEN. Your CTA platform ensures all records are kept secure and easily accessible.
Once the review is finalized, filings will be directly submitted to FinCEN’s API from your CTA software. In case of any delays by FinCEN, a form match system is in place to enable filing within 5 minutes.
Automated software reminders keep clients informed and reports progressing smoothly. From your dashboard, you can easily download data, track report statuses, and manage multiple clients efficiently with just one staff member.
In the absence of efficient CTA reporting tools within your legal or accounting practice, each BOI report will consume two to three hours of staff time to accomplish five required filing stages. This involves managing complexities, operating within disjointed systems, clarifying client misunderstandings, and maintaining records of CTA reports for a substantial client base ranging from hundreds to thousands. All of these steps can be solved with CTA reporting software.
Without CTA software, firms will need to create and utilize a form to gather data from your clients. Given the complexity of the regulation, allocate time to address inquiries regarding FinCEN’s definitions of applicants, accurate addresses, owners exerting significant control, and more.
Without software, your firm must implement a dedicated file manager to collect and securely store ID documents from clients. Additionally, these files will need to be organized and preserved alongside the corresponding CTA report details for future reference.
Without software, your firm must develop and implement an information management system to maintain BOI data, ensure accuracy by verifying for errors during information transcription, and schedule a consultation with each client to review filings before submitting them to FinCEN.
In the absence of BOI software, your staff will be required to manually re-enter data into the FinCEN filing system and obtain a confirmation to provide to your client. Additionally, you must maintain these records within a separate system dedicated to storing filed information for clients.
Overseeing hundreds to thousands of clients required a system capable of sending reminders, assisting clients with submissions, storing reports, and maintaining organization. Implementing such a system invariably adds more time required for each report with CTA filing software.