For firms overseeing the compliance of client FinCEN reporting, the responsibility is immense: every client’s reporting company will need to file comprehensive BOI (Beneficial Ownership Information) reports under the Corporate Transparency Act. An effective, user-friendly system to track these filings is essential to support such a vast scope.
Given the breadth of the Corporate Transparency Act, no reporting company can afford to be an exception. Every single client of a firm must file critical BOI reports detailing the company’s information, those with ownership interests and individuals with substantial control. This extensive requirement driving the collection of over 65 data points means that firms can’t rely on sporadic check-ins or outdated spreadsheet systems. There’s a need for a streamlined, centralized dashboard like FincenFetch’s to manage hundreds to thousands of FinCEN reports and ensure timelines are met for clients to avoid penalties.
Delays, inaccuracies, or omissions in compliance can spell disaster for reporting companies. Penalties for FinCEN reporting are severe, and the margin for error is minimal. The FincenFetch dynamic dashboard actively shows the progress of each client report. This real-time tracking allows firms to identify and address potential compliance delays within FinCEN’s timelines, ensuring their clients’ reporting companies comply with the Corporate Transparency Act. Sending reminders, checking progress, and marking filed reports are just a few of dozens of helpful tools available to firms – all tied to simple button clicks.
A successful compliance strategy goes beyond mere tracking. FincenFetch’s dashboard also helps firms track billings for CTA filing work, effectively acting as a CRM. It’s a comprehensive solution that encompasses every phase of compliance – from collecting beneficial ownership information to reviewing, tracking, and the final filing. Data exports allow firms to quickly gather billing data for each client’s FinCEN report and support internal accounting teams’ billing processes.
Instead of juggling multiple tools and platforms, firms now have a singular, unified system where every piece of information, every client report, finds its rightful place. The harmonious blend of tracking and client management makes FincenFetch an all-inclusive solution in the world of the Corporate Transparency Act.
Whether a firm manages hundreds or tens of thousands of reporting companies, the dashboard is built to scale without introducing complexity. Most firm staff will be able to learn and fully use the FincenFetch system within a matter of minutes due to the intuitive design of the interface. Every essential piece of information is intuitively presented, ensuring that firms, regardless of their client volume, can navigate with ease. This scalability ensures that as firms grow and take on more reporting companies.
Instead of juggling multiple tools and platforms, firms now have a singular, unified system where every piece of information, every client report, finds its rightful place.
A FinCEN compliance management dashboard isn’t just a tool; it’s the linchpin of successful compliance strategy for firms. With FincenFetch leading the charge for Corporate Transparency Act reporting platforms, firms can now ensure that their reporting companies not only meet the requirements of the Act but do so with ease, timeliness, and efficiency.
Schedule a demo today to see how FincenFetch powers your collaboration with clients for FinCEN reporting.