Registered Agent Solutions, Inc., A Lexitas Company, announced the launch of CTAComply™, a highly-secure compliance management platform, that enables companies to easily comply with the new Financial Crimes Enforcement Network (FINCEN) Corporate Transparency Act (CTA) reporting requirements by managing Beneficial Ownership Information (BOI) and submitting required reports.
The new CTA requirements went into effect on January 1, 2024 and RASi is launching CTAComply™ to ensure that clients have a secure platform to prepare and gather their required supporting documentation for this reporting. RASi has also created an eligibility wizard to help clients determine if they qualify for any of the 23 exemptions.
CTAComply™, is the industry’s best solution for CTA compliance because:
- It provides an API connecting directly to FINCEN’s BOSS system allowing users to easily submit filings. For those with several entities needing to report, CTAComply™ will ease the burden of repetitive keying of BOI.
- Users can enter information and save to come back later and finish completing.
- It is easy to file amendments on an ongoing basis utilizing information securely stored in CTAComply™ – many systems require you to fill out a new BOI report every time you need to make an update.
- CTAComply™ is integrated with RASi’s existing client portal, Corpliance®, which means that all existing entity information will automatically populate CTAComply™ and save clients time by eliminating data entry
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Because of the confidential nature of the BOI filing requirements, the CTAComply™ portal was created with cybersecurity in mind from the ground up. From end-to-end encryption, to RASi’ underlying comprehensive security program and industry leading cyber support systems, our clients can be confident storing and managing their BOI within CTAComply™.
“RASi has been closely following the progression of the Corporate Transparency Act since 2008 when it was first presented to Congress as the Incorporation Transparency and Law Enforcement Assistance Act. When the final Corporate Transparency Act ruling was released in September 2022, we started planning how best to service our clients and the industry. This reporting requirement will be a large undertaking for clients, so offering a seamless and secure solution was paramount. CTAComply™ provides top notch security that allows for the confident management of entity and personal information for Beneficial Owners. RASi continues to prioritize the continuous development and improvement of technology-based solutions that will enhance the effectiveness and efficiency of our clients, and this is just another key example of this dedication,” said Sean Prewitt, President of RASi.
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