CPA Case Study: Automating Beneficial Ownership Information (BOI) Reporting Under the Corporate Transparency Act with FileForms

Client Profile:  

An award-winning Top 300 CPA firm based in New York City, specializing in: 

• Business Formation, Management & Advisory Services 
• Family Office and High Net Worth Individual (HNWI) Services 
• Mergers & Acquisitions Advisory 
• CFO Services 

Challenge:  

The CPA firm needed a solution to comply with the Corporate Transparency Act (CTA) and its FinCEN Beneficial Ownership Information (BOI) reporting requirements, ensuring accurate, efficient, and secure filings for their clients. 

Solution:

FileForms’ Corporate Transparency Act Compliance Platform. The CPA firm partnered with FileForms to automate the BOI reporting process, simplifying compliance with the Corporate Transparency Act and FinCEN regulations. 

• White-Labeled Corporate Transparency Act Compliance Solution: FileForms provided a fully white-labeled PRO instance of the BOI reporting platform. This enabled the CPA firm to offer branded CTA compliance services, including custom pricing for beneficial ownership reporting. 
• Centralized FinCEN BOI Reporting Dashboard: CPA admin users accessed a centralized dashboard to manage BOI filings across multiple client companies, making it easy to handle FinCEN reporting requirements and maintain compliance with the Corporate Transparency Act. 
• Flexible Client Onboarding: The platform enabled the CPA firm to offer two service options: 
• Do-It-Yourself (DIY) BOI Filing: Clients received invitations to use the platform, where they could upload their beneficial ownership information, review data, and complete FinCEN filings independently, with payment handled securely via credit card. 
• End-to-End BOI Reporting Service: CPA admin users could manage the entire FinCEN BOI reporting process for their clients, ensuring Corporate Transparency Act compliance, and handle invoicing outside the platform. 
• Bulk Data Upload & Pre-Population for FinCEN Reporting: The firm used FileForms’ bulk upload template to efficiently pre-populate BOI reporting data by exporting client information from their tax preparation software, speeding up the process and ensuring FinCEN compliance. 
• Secure Beneficial Owner & Company Admin Invitations: CPA admin users invited beneficial owners and company admins via email or SMS to access company records, allowing them to upload identification documents, review filings, and submit directly to FinCEN. 
• Secure Storage & Instant FinCEN Submission Confirmation: All beneficial ownership information was securely stored in the platform, and the firm received instant confirmation numbers and transcripts from FinCEN upon each submission. 

Results:   

By using FileFormsPRO tailored to the Corporate Transparency Act and FinCEN compliance: 

• The CPA firm streamlined the beneficial ownership reporting process, saving hours of time 
• Achieved accurate and efficient compliance with FinCEN’s BOI requirements under the CTA 
• Improved client satisfaction through secure data handling and flexible service options 

FinCEN BOI Reporting Pricing Model:   

• The CPA firm implemented a per-entity pricing structure, charging between $500 and $1,000 per submission, based on the number of beneficial owners on the company. 
• Most clients chose the DIY process, uploading their information and completing payments through the FileForms platform. 

Keywords:   

• Corporate Transparency Act Compliance 
• FinCEN BOI Reporting 
• Beneficial Ownership Information Reporting 
• CPA Firm FinCEN Reporting Solution 
• Automated Corporate Transparency Act Filing 

If you would like to learn how you can you do this with you firm, please reach out to the team directly.

• Ian Quinlan – Client Director – ian@fileforms.com
• Chase Mariano – Client Specialist – chase@fileforms.com