FincenFetch requires very simple configuration to make BOI a secure, automated and profitable solution to manage ongoing Corporate Transparency Act compliance at your firm.
With best practices, 100 clients generates $35K in initial report revenue, plus $8K/year in updated report and $10K/year in annual CTA Compliance package revenue. The following 3 steps will help you get the most from your FincenFetch platform:
Step 1
Client Import: Ensure ALL Clients have access to fast BOI filings with one 15 minute upload
Uploading your clients is a quick and essential step to ensure they have full access to the BOI dashboard tools. The process takes just minutes and allows your firm to seamlessly manage client filings and compliance. This is MUCH faster than manually adding each client. Once they are added, you can invite them to file with just a click.
How to Import Clients:
If you have any problems after watching the videos, CLICK THE SUPPORT BUTTON IN THE TOP MENU OF YOUR PORTAL to open a ticket. Our team can help you over Zoom and solve problems with your upload file. We want to see you succeed and are happy to help!
By uploading your clients now, you’ll unlock the full capabilities of the BOI dashboard for everyone, making compliance and management effortless and maximizing compliance revenue.
RECOMMENDED BONUS RESOURCE: Use this email template to tell your clients about BOI reports and prepare them for the dashboard invitations.
Click to watch a tutorial specifically for accounting and law firms about using the CSV to import data from existing client or tax systems.
Click to watch the recommended upload instructions for community managers to import data and invite your HOA board members to submit their information.
Step 2
Automations: Each report requires only minutes with a few key automation and reminder settings.
Every report ends with a review process and filing. Some key settings in your panel will make things easier for you –
1. Log in to Portal > go to Settings (top menu) > Email Reminders (sidebar menu): Turn on all of these. These will help keep your clients aware of reports they don’t finish, the rules around updated reports, and expiring ID cards. You can adjust the content and schedule of these emails.
2. Log in to Portal > go to Settings (top menu) > Report Settings (sidebar menu): Turn on “Auto Complete reviews when submitted back to firm” near the bottom of this page under Auto Settings. You can activate this feature to automatically review reports. To auto-file them after the auto-review, just click the second setting that will open up after the auto review. Because clients sign off on reports and confirm their accuracy before the review step, most firms will automate this review process and filing process to speed things up.
3. Log in to Portal > go to Settings (top menu) > Get Notifications (sidebar menu): Turn on everything except “Get BCCed on all emails.” The other 4 notification features let you know when clients are taking actions in the portal without having to log in and watch.
Together, these three features reduce the report time to just two minutes and give you full awareness of filing activity. Those two minutes are spent checking any CSV uploaded information after the upload in Step 1 above and inviting the client. After that, the system is reminding them to finish, getting their sign-off, and then auto-review and filing the report. Clients will receive an automatic transcript confirmation email after the filing is complete and you can find these filings in the Tracking tab (top menu).
Step 3
Ongoing CTA Compliance Billing: Offer clients an annual service for CTA compliance.
Based on insights from nearly 1,000 firms using FincenFetch, we’ve confirmed that ~40% of companies will need to file updated BOI reports each year due to three most common triggering events alone: owner address changes (~15–25%), business relocations (~5–10%), and ownership changes (~5%). With ~14.5 million updates expected annually, it’s crucial to check these data points during tax season to ensure Treasury’s latest FinCEN BOI transcript aligns with tax return data, avoiding compliance risks.
Most firms offering BOI services are now billing clients between $99 to $199 annually per EIN to cover the following typical services – which are mostly automated by your portal:
Remember, $99 a year is 1/6th of the cost of being even 1 day late on an updated report. Firms using BOI software or even manual processes have costs to maintaining this service that must be passed along. Just as you wouldn’t make other compliance items like tax returns or annual filings free, you also shouldn’t make managing ongoing CTA compliance free – especially with the 30-day requirement for updates.
NOTE: We’re launching a feature in the coming months to automate offering annual BOI packages and collecting these payments directly through the portal. Payments from clients will be deposited directly to linked accounts. More details to come.
Share these with your team to provide a refresh on any system features. Staff members operating FincenFetch should be familiar with these video guides.
5 Minutes: In this video you will learn how to create your account and get familiar with all of the dashboard tabs and functionality. PLEASE NOTE YOU WILL NOT HAVE THE PASSWORD SET LINK UNTIL YOUR ONBOARDING TRAINING.
9 Minutes: In this video you will learn how to create reports, where to import clients, and about various report types.
8 Minutes: In this video you will learn how to finalize reports, track filings with FinCEN, and manage actions after filing for clients.
12 Minutes: In this last core video you will learn how to add your team, upload logos, add engagement language, adjust report settings, and set up client emails to automate your work.
