Why Accountants Should Help Clients Tackle Annual Reports and BOI Reports During Tax Season

Tax season is a busy time for accountants, but it also presents a unique opportunity to help clients stay compliant with state and federal requirements while building trust and generating additional revenue. Annual reports and Beneficial Ownership Information (BOI) reports are critical filings that can often be overlooked amidst the rush to file taxes. By integrating these compliance tasks into your tax season workflow, accountants can provide a seamless and valuable service to clients. 

The Importance of Annual Reports for State Compliance

Many businesses are required to file annual reports to maintain good standing with their state. These reports typically update the state on: 

• Business addresses 

• Registered agents 

• Management or ownership details 

Failing to file an annual report on time can lead to penalties, loss of good standing, or even administrative dissolution of the business entity. Tax season is an ideal time to address these filings since businesses already have their financial and operational information readily available. By offering to handle annual reports alongside tax filings, accountants can: 

• Simplify compliance for their clients 

• Prevent costly penalties and administrative headaches 

• Strengthen client relationships by providing proactive support 

The Case for Preparing BOI Reports During Tax Season

In addition to Annual Reports, tax professionals can also guide clients to prepare for federal compliance. Under the Corporate Transparency Act, certain businesses are required to file BOI reports with the Financial Crimes Enforcement Network (FinCEN). These reports identify individuals who own or control the business. With BOI reporting deadlines looming and new businesses being added to the compliance requirements, it’s essential to act early. 

Preparing BOI reports during tax season makes sense because: 

• Accountants already have access to the necessary client information, such as ownership structures and contact details. 

• Aligning BOI reporting with annual tax preparation reduces the risk of missing deadlines or submitting incomplete information. 

• Helping clients comply with BOI requirements demonstrates value and reinforces trust in your advisory role. 

Why Use FileForms for Compliance?

FileForms simplifies the process of preparing and submitting annual reports and BOI filings. Our secure, user-friendly platform integrates seamlessly into your workflow, saving time and reducing errors. Here’s how FileForms can help: 

• Streamlined Compliance: Automate repetitive tasks and ensure timely submissions for both state annual reports and FinCEN BOI filings. 

• Nationwide Services: We provide annual report and registered agent services in all 50 states, ensuring your clients’ compliance needs are fully covered. 

• SOC-II Certified Security: Protect sensitive client data with enterprise-grade encryption. 

• Revenue Opportunities: Turn compliance into a revenue-generating service while building long-term client loyalty. 

• Time Savings: Eliminate the hassle of managing multiple filing requirements manually. 

Don’t let your clients risk penalties or loss of good standing. Use FileForms to make compliance easy and profitable. By incorporating annual reports and BOI filings into your tax season services, you can: 

• Enhance your role as a trusted advisor 

• Provide comprehensive compliance solutions 

• Save time and generate additional revenue 

Sign up for FileForms today and take the first step towards turning compliance into an advantage for your practice and your clients. Together, we can make compliance stress-free and build stronger client relationships.