How to File a Report with Financial Crimes Enforcement Network

📝The Corporate Transparency Act mandates most business entities to file an initial Report with the Financial Crimes Enforcement Network.

📋LLCs or corporations that file with the Secretary of State are likely considered reporting companies.

📱The Boy Filing System provides step-by-step instructions on how to obtain and create a FinCEN ID.

✅The Vincent ID, though optional, makes the reporting process easier for companies owning multiple entities.

📄To create a Vincent ID, you need to login with login.gov, enter your personal information, and upload a photo ID.

Which companies are required to file an initial Report with the Financial Crimes Enforcement Network?

—Most business entities are required to file an initial Report starting from January 1st, 2024.

How can I determine if my company is considered a reporting company?

—If your company is an LLC or a corporation that files with the Secretary of State, it is likely considered a reporting company.

What is the purpose of the Vincent ID?

—The Vincent ID, though optional, makes the reporting process easier for companies that own multiple entities.

How can I create a Vincent ID?

—To create a Vincent ID, you need to login with login.gov, enter your personal information, upload a photo ID, and certify the provided information.

What happens after I submit my application for a Vincent ID?

—After submitting your application, you will receive your Vincent ID. Make sure to keep a copy of your submission receipt.

00:00Starting from January 1st, 2024, most business entities will be required to file an initial Report with the Financial Crimes Enforcement Network.

00:05LLCs or corporations that file with the Secretary of State are likely considered reporting companies.

00:18The Boy Filing System provides step-by-step instructions on how to obtain and create a FinCEN ID.

00:38The Vincent ID, though optional, makes the reporting process easier for companies owning multiple entities.

01:13To create a Vincent ID, you need to login with login.gov, enter your personal information, and upload a photo ID.

01:54Most business entities are required to file an initial Report starting from January 1st, 2024.

01:58If your company is an LLC or a corporation that files with the Secretary of State, it is likely considered a reporting company.

02:06After submitting your application, you will receive your Vincent ID. Make sure to keep a copy of your submission receipt.