Safely submit your Beneficial Ownership Information (BOI) and ensure compliance with FinCEN and the Corporate Transparency Act at ParaFort.
Safely submit your Beneficial Ownership Information (BOI) at ParaFort to ensure compliance with FinCEN and the Corporate Transparency Act.
Think about our core values for a few minutes.
We’re that rare breed of accountants who are genuinely interested in you — not just your fee, but your business, your dreams, and your goals.
We start by getting to know you:
• Your personal circumstances – what you want out of life.
• Your business – why you set it up, what it represents to you.
And we won’t ever stop being curious. Times change, facts change, and your business will change too.
We immerse ourselves in your business and help you identify what it needs to deliver in order to help you achieve your goals.
We work with you to build a roadmap to your destination and then keep asking:
“Are we there yet?”
That might sound annoying, but it's called holding you accountable. We do it through reporting, forecasting, and proactive advice — so your dreams don’t fade into the rearview mirror.
We expect nothing less than the best — for both you and our team. We’re accountants first, but that’s not all.
Yes, we’ll get everything filed on time, every time. But we’ll also encourage you to build:
• Scalability
• Flexibility
• Accountability
We’re ambitious for our team too — that’s why we work in a certain way, use the latest technology, and stay open to change.
The Beneficial Ownership Information Report (BOIR) is a new requirement under the Corporate Transparency Act (CTA) for U.S. businesses. It’s designed to increase transparency in business ownership and help combat financial crimes.
The BOIR requires businesses to report details about their beneficial owners, including:
The BOIR helps
Fired up with entrepreneurial spirit? But in need of a guiding hand when it comes to your accounts and finances?
Then you’ve come to the right place. Based in the capital of California, Sacramento, we are accountants who love to collaborate with like-minded businesses that are ready to grow and prosper.
At ParaFort, we make you the center of everything we do. Our focus is on supporting businesses, like yours, improving productivity, increasing their profits, growing sustainably, and finding more time to do the things they want to do. Whether that’s retiring early to spend time with your family, or simply world domination!
BOI reporting refers to the requirement for certain entities to disclose their beneficial ownership information under the Corporate Transparency Act (CTA) to enhance transparency and combat financial crimes.
Most corporations, limited liability companies (LLCs), and similar entities created or registered to do business in the U.S. are required to file a BOI report.
You will need to provide details for each beneficial owner, including their full name, date of birth, residential or business address, and identification number (like a driver’s license or passport number).
Yes, the information is intended to be confidential and will only be accessible to law enforcement and certain government agencies.
Failing to file can result in penalties, including fines or other legal consequences. It’s crucial to comply with the reporting requirements.
Yes, if there are changes in ownership or other relevant information, you must update your BOI report within 30 days.
The main purpose is to enhance transparency in business ownership, prevent financial crimes, and assist law enforcement in tracking illicit activities.
For detailed guidelines, visit the Financial Crimes Enforcement Network (FinCEN) website or consult with a legal professional.
BOI reporting is a mandatory obligation for many businesses under the Corporate Transparency Act. Failure to comply can lead to significant penalties, including fines and potential criminal charges. This makes understanding and adhering to the reporting requirements essential for all affected entities.
The primary goal of BOI reporting is to promote transparency in business ownership, which helps prevent financial crimes such as money laundering and fraud. By disclosing beneficial ownership information, businesses contribute to a more secure financial environment, fostering trust among investors, partners, and the public.
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