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 ObligationsNot 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.
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.
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.
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.
For companies with multiple entities, SingleFile manages BOI reporting obligations across your entire portfolio from a single dashboard.
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.
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.
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.
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.
Join hundreds of companies that trust SingleFile for corporate transparency act (cta) boi reporting.