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Corporate Transparency Act Reporting

The Corporate Transparency Act (CTA) requires millions of U.S. businesses to file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN). The law is designed to combat money laundering and fraud by creating transparency around who ultimately owns and controls U.S. companies. SingleFile helps you understand your obligations and file accurately.

Check Your BOI Reporting Obligations

Service options

Obligation assessment

Not every company needs to file a BOI report, there are 23 exemption categories. SingleFile helps you determine whether your entity is required to report and which exemptions may apply.

Beneficial owner identification

A beneficial owner is anyone who owns 25% or more of the company, or exercises substantial control. We help you identify all beneficial owners and company applicants required for your report.

Accurate report preparation

We prepare your BOI report with the required information, including beneficial owner names, addresses, dates of birth, and identifying document numbers, and file with FinCEN on your behalf.

Update filings

If beneficial ownership changes, through a sale, new investor, or officer change, an updated BOI report must be filed within 30 days. SingleFile monitors for triggering events and manages update filings.

Multi-entity management

For companies with multiple entities, SingleFile manages BOI reporting obligations across your entire portfolio from a single dashboard.

Related compliance guides

CTA Timeline

A full legal history of the Corporate Transparency Act — key legislative, regulatory, and judicial events from enactment through the current Interim Final Rule.

View the timeline →

New York LLC Transparency Act (NY LLCTA)

What foreign LLCs registered in New York must know about the state-level BOI requirement effective January 1, 2026 — deadlines, what to report, annual filings, and penalties.

Read the NY LLCTA guide →

Do I Still Need to File a BOI Report in 2026?

Where CTA beneficial ownership reporting stands now — who must still file under the Interim Final Rule, who is exempt, and what changed for domestic companies.

Get the 2026 answer →

Who Counts as a Beneficial Owner for BOI Reporting?

The two tests — substantial control and 25% ownership — explained with the edge cases: trusts, holding companies, senior officers, and exempt entities.

See who counts →
FAQs

Frequently asked questions

What is the Corporate Transparency Act?
The CTA is a federal law that went into effect January 1, 2024. It requires most small U.S. businesses to report information about their beneficial owners to FinCEN. The goal is to prevent the use of shell companies for money laundering, tax evasion, and other illicit activity.
Who needs to file a BOI report?
Most corporations, LLCs, and similar entities formed or registered in the U.S. must file, unless they qualify for an exemption. Exempt entities include large operating companies (20+ employees, $5M+ revenue, physical office), publicly traded companies, banks, and certain regulated industries.
What is the deadline for BOI reporting?
Current status: FinCEN issued an Interim Final Rule in March 2025 limiting BOI reporting to foreign reporting companies only. Domestic companies are currently exempt under this IFR. Deadlines may change, SingleFile monitors regulatory developments and will alert you to any changes affecting your obligations.
What are the penalties for not filing?
Willful failure to file can result in civil penalties of up to $591 per day and criminal penalties including fines up to $10,000 and imprisonment up to 2 years. For most businesses, compliance is straightforward when handled correctly.
Are there state-level equivalents to the Corporate Transparency Act?
Yes. Some states have enacted their own beneficial ownership transparency laws that mirror or expand on the federal CTA. The most prominent is the New York LLC Transparency Act (NY LLCTA), which took effect January 1, 2026 and currently applies to foreign LLCs registered to do business in New York. Other states, including California, have similar legislation under consideration, SingleFile tracks these developments and will alert you to any new obligations that apply to your entities.

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