What do I do if I receive communications from a third-party about assisting with my Corporate Transparency Act obligations?

Both the Financial Crimes Enforcement Network (“FINCEN”) and the Better Business Bureau (“BBB”) have issued alerts warning the public of scam attempts which aim to solicit information and “filing fees” from individuals and entities under the guise of assisting with Corporate Transparency Act (“CTA”) compliance. No filing fee is required for submitting a report to comply with the CTA.

If you receive communications which, whether via email, phone call or physical mail, offer to assist with your business’ CTA filings do not respond, including by clicking a link, scanning a QR Code, or communicating back via email or written response. FINCEN will never reach out requesting information for your CTA filing. The correspondence may look legitimate, using official-looking letterheads, seals and watermarks. For example, one group which has been flagged by the BBB as a CTA scammer is The United States Business Regulations Department, Corporate Transparency Act Division, Process and Filing Center; this organization is attempting to solicit and use your information for fraudulent purposes and you should disregard any correspondences you receive from it.[1]

How long do I have to file my initial Beneficial Ownership Information Report? 

• Reporting companies formed prior to January 1, 2024:
  • By January 1, 2025.
• Reporting companies formed in 2024:
  • Within 90 days of formation.
• Reporting companies formed on or after January 1, 2025:
  • Within 30 days of formation.

Where can I find more information on the Corporate Transparency Act?

To learn more, explore our suite of resources prepared by the firm to address frequently asked questions and offer guidance on complying with the CTA. For additional support we invite you to reach out to a member of the Koley Jessen Corporate Transparency Task Force.

[1] There are legitimate corporate service companies that offer filing assistance for a fee. Please refer to the Koley Jessen Corporate Transparency Act Resource Page for links to a few such companies.

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