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Specialized Consulting for Efficient CTA Reporting

10/07/2025

The Corporate Transparency Act (CTA) has introduced new reporting requirements that impact many privately held businesses. Under this law, companies must file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN) to enhance corporate transparency and prevent financial crimes.

For many business owners, navigating these new compliance obligations can be time-consuming and complex. Consulting services can simplify the process, ensuring accurate reporting and timely filings while minimizing risks.

Understanding CTA Reporting Requirements

Businesses required to file BOI reports must disclose details about their beneficial owners—individuals who:

  • Own 25% or more of the company, OR
  • Exercise significant control over company decisions.

The BOI report must include:

  • Full legal name
  • Date of birth
  • Residential address
  • Government-issued ID number (such as a passport or driver’s license)

Additionally, newly formed businesses must also report company applicant information—identifying those who filed the business formation documents.

Deadlines for CTA Compliance

The timeline for submitting BOI reports depends on when the business was established:

  • Companies formed before January 1, 2024: Must file by January 1, 2025.
  • Companies formed after January 1, 2024: Must file within 90 days of registration.
  • Ownership or information changes: Must be updated within 30 days of the change.

Challenges of CTA Compliance

Many businesses may find CTA reporting overwhelming due to:

  • Complex ownership structures requiring detailed analysis
  • Strict deadlines that demand ongoing monitoring
  • Potential penalties for errors or late filings, including fines of up to $500 per day

How Consulting Services Streamline CTA Reporting

Professional consulting services help businesses navigate CTA compliance efficiently by offering:

  1. CTA Eligibility Assessment
  • Determining whether a business must file a BOI report
  • Identifying any exemptions that may apply
  1. Beneficial Ownership Analysis
  • Reviewing ownership structures to ensure all required individuals are reported
  • Assisting with the collection and verification of necessary information
  1. BOI Report Preparation and Filing
  • Completing and submitting reports through FinCEN’s secure system
  • Ensuring accuracy to minimize the risk of fines or rejected filings
  1. Ongoing Compliance Monitoring
  • Keeping track of ownership changes and filing updates within 30 days
  • Providing alerts and reminders for required updates
  1. Secure Record-Keeping
  • Organizing and storing CTA-related documents for future reference
  • Ensuring compliance with FinCEN’s reporting requirements

Why Businesses Should Seek CTA Compliance Consulting

  • Saves time by handling complex filings
  • Minimizes risk of errors and penalties
  • Ensures compliance with changing regulations
  • Provides structured support for future updates and reporting needs

Simplify CTA Compliance with the Right Support

With new reporting rules now in effect, businesses must act to avoid penalties and ensure proper compliance. Consulting services provide structured guidance, efficient reporting, and ongoing monitoring to help businesses meet their obligations without added stress.

For assistance with CTA reporting and compliance advisory, visit www.perpetualcpa.com.

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