May 2024 Foodman Website and JD Supra
fraud alert alerta de fraude del CTA

FinCEN has learned of fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the Corporate Transparency Act (CTA). Scammers are on the hunt to steal sensitive and private information from individuals and entities who may be subject to reporting requirements under the CTA. The scams  under the CTA fraud alert are letters and emails that impersonate IRS tax documents by using the fraudulent title of  “Important Compliance Notice” and request the recipient of the correspondence to click a link or scan a QR code.

The CTA Fraud Alert from FinCEN highlights fraudulent scams that may include:

  • Correspondence requesting payment. There is NO fee to file BOI (Beneficial Ownership Information) directly with FinCEN. FinCEN does NOT send correspondence requesting payment to file BOI. Do not send money in response to any mailing that claims to be from FinCEN or another government agency.
  • Correspondence that asks the recipient to click on a URL or to scan a QR code. Those e-mails or letters are fraudulent. Do not click any suspicious links or attachments or scan any QR codes in emails, on websites, or in any unsolicited mailings.
  • Correspondence that references a “Form 4022,” or an “Important Compliance Notice.” This correspondence is fraudulent. FinCEN does not have a “Form 4022.” Do not send BOI to anyone by completing these forms.
  • Correspondence or other documents referencing a “US Business Regulations Dept.” This correspondence is fraudulent; there is no government entity by this name.

Note that:

Individuals and organizations that are required to report a company’s beneficial ownership information to FinCEN,  will do so electronically through a secure filing system available via FinCEN’s BOI E-Filing website (

Where can I find the form to report?

Access the Beneficial Ownership Information Reporting (BOIR) form by going to FinCEN’s BOI E-Filing website: and select the filing method that works best for you:  File PDF BOIR or File Online BOIR

Existing companies have one year to file. New companies must file within 90 days of creation or registration

Reporting companies must file their initial reports by the following deadlines:

  • Existing companies: Reporting companies created or registered to do business in the United States before January 1, 2024, must file by January 1, 2025.
  • Newly created or registered companies: Reporting companies created or registered to do business in the United States in 2024 have 90 calendar days to file after receiving actual or public notice that their company’s creation or registration is effective.

Updates are to be filed within 30 days of a change occurring 

If there is any change to the required information about a reporting company or its beneficial owners in a beneficial ownership information report that a reporting company filed, the reporting company must file an updated report no later than 30 days after the date of the change.

Triggers that would require an updated BOIR:

  • Any change to the information reported for the reporting company, such as registering a new business name.
  • A change in beneficial owners, such as a new CEO, or a sale that changes who meets the ownership interest threshold of 25 percent.
  • Any change to a beneficial owner’s name, address, or unique identifying number previously provided to FinCEN. If a beneficial owner obtained a new driver’s license or other identifying document that includes a changed name, address, or identifying number, the reporting company also would have to file an updated beneficial ownership information report with FinCEN, including an image of the new identifying document.

Beneficial owners and company applicants should also be aware that they may face penalties if they willfully cause a reporting company to fail to report complete or updated beneficial ownership information.

Best to consult with your Corporate Governance Expert for help in making sure your business complies with the CTA and is not a victim of CTA Fraud.

Who is your Corporate Governance Expert? ©