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FinCEN FilePro

FinCEN FilePro

Last Updated Oct 26, 2024

Overview

FinCEN FilePro simplifies the complex task of compliance with the corporate transparency act (CTA). It offers automated filing, secure document management, and customizable dashboards. While initial setup can be detailed, the robust features ensure a seamless compliance process, boosting productivity and client satisfaction. Experience efficiency with FinCEN FilePro.

Overall Rating

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5

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100%

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Starting Price
Custom

What Is FinCEN FilePro?

Overview

The introduction of the corporate transparency act (CTA) requires over 32 million U.S. business entities to report their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). This new regulation aims to combat financial crimes such as money laundering and terrorism funding. Enter FinCEN FilePro, a sophisticated software solution designed to simplify the compliance process and offer substantial benefits to CPAs and legal firms.

FinCEN FilePro is a robust, white-label software platform tailored to help firms manage CTA compliance efficiently. It features an intuitive user interface, automated filing capabilities, unlimited client capacity, and secure document management. This tool transforms the cumbersome process of beneficial ownership information (BOI) filing into a seamless experience, reducing the manual workload and minimizing errors.

What Is FinCEN FilePro Best For?

FinCEN FilePro is well known for its operational efficiency and enhanced client service. The platform's automation capabilities significantly reduce the time and effort required for BOI filings. This allows CPAs and legal professionals to handle more clients and filings with less effort, ultimately increasing productivity and profitability.

Additionally, by offering a smooth and user-friendly experience, FinCEN FilePro enhances client satisfaction and loyalty. Clients appreciate the ease and security of the platform, which streamlines the complex process of compliance.

FinCEN FilePro Pricing

Many firms using FinCEN FilePro report a 10x return on investment (ROI) for their filings. The software's volume-based pricing allows firms to maintain high margins while keeping expenses low, making it a financially attractive option. The users have the option to either pay the entire FinCEN FilePro cost upfront or via multiple-payments.

FinCEN FilePro Integrations

The software offers integrated client communication tools to facilitate easy and secure interaction between CPAs and their clients. Besides, comprehensive support resources are now integrated, including detailed guides, wizards, and tutorials to help users understand and maximize the benefits of the compliance software.

Moreover, with Zapier integration, users can connect FileCEN FilePRO to over 3,000 apps, automating workflows and minimizing the need for manual data entry, which reduces errors and saves time.

How Does FinCEN FilePro Work?

Here's how you can navigate the dashboard and make use of the software's features:

  • Log on to the portal by entering the credentials provided by your FinCEN FilePro client services team
  • View and manage all your companies and FinCEN reports from one portal
  • Pre-fill each report right from the dashboard
  • Use the company report stat tracking feature on the main dash for insights into your portfolio status
  • For new companies, enter the company name and email address to send out a BOI report link
  • Complete a BOI report: which is simplified into four key sections: company information, DBA information, beneficial owners, and company applicants
  • Upload hundreds of companies at a time via a CSV file
  • Customize the software with your own branding including logo, color scheme, and domain name
You can also schedule a free FinCEN FilePro demo to learn more about its functionalities.

Who Is FinCEN FilePro For?

FinCEN FilePro represents a significant advancement in compliance management for CPAs and legal firms. By streamlining the BOI filing process, enhancing client service, and offering substantial financial benefits, FinCEN FilePro empowers professionals to navigate the complexities of the CTA with confidence and efficiency. Additionally, the software caters to the following industries and departments:

  • Banking
  • Accounting
  • Taxation
  • Insurance
  • Finance
  • Marketing

Is FinCEN FilePro Right For You?

Are you looking for a comprehensive solution to navigate the complexities of FinCEN’s beneficial ownership information (BOI) reporting? If so, then FinCEN FilePro can be the perfect fit. With top-tier security protocols, the software ensures that all client data is protected with the highest standards of encryption and cyber-defense mechanisms. It ensures data protection with end-to-end encryption and multi-factor authentication.

Additionally, stay compliant effortlessly with automated alerts that keep users informed of required changes/updates to their BOI reporting obligations, i.e. expiration of identification documents. Moreover, with the upcoming release of FinCEN FilePro 2.0, firms can expect even more robust features and enhancements, ensuring they remain at the forefront of compliance management.

Pros And Cons of FinCEN FilePro

Pros

  • Stay informed with automatic alerts directly from FinCEN, ensuring that all compliance activities are up-to-date with the latest rules and regulations

  • Ensures data protection with end-to-end encryption and multi-factor authentication

  • Automated report generation minimizes errors and streamlines the filing process

  • ID scanning technology enables quick verification processes, reducing errors and speeding up client report completion

  • A new credit-based system allows firms to manage their usage and costs more effectively, scaling their compliance activities according to their specific needs

Cons

  • Advanced Integrations require tech support only available to white label clients

  • Does not offer Tax guidance or preparation

  • Does not offer Company Formation/Registration for LLCs, SCorps, etc

  • Specific Legal guidance only available to partner firms and partner firm clients

Frequently Asked Questions

Yes, FinCEN FilePRo’s open API extends the functionality of the software, enabling seamless integrations. The platform offers a Public API and integrates with Zapier, allowing users to connect with FileCEN FilePRO to over 3,000 apps, automating workflows and minimizing the need for manual data entry.

FinCEN FilePro supports the English language.

The platform integrates with Zapier, allowing users to connect with FileCEN FilePRO to over 3,000 apps, automating workflows and minimizing the need for manual data entry.

Yes, the software supports mobile devices.

Firms can start using FinCEN FilePro for free, only paying when they submit a report. Additionally, the vendor offers customizable pricing plans based on your company’s requirements. Users can choose to pay the for FinCEN FilePro credits upfront or in installments.

Typical users of the platform include accounting and legal firms, real estate investment trusts, business registration companies, and registered agents. For CPAs and legal professionals looking to optimize their operations and provide exceptional service to their clients, FinCEN FilePro is an invaluable tool.

The software offers several support options. It includes white label support, where firms can brand the software as their own, enhancing their professional image. Users can access expert legal advice to ensure compliance with all regulations. Additionally, its concierge Level IT and Client Support Services ensures any issues are promptly addressed, allowing professionals to focus on their clients.

FinCEN File Pro, developed by FinCEN Advisors, offers a streamlined process for professional firms to manage client filing information. It simplifies the filing requirements of the Corporate Transparency Act, making it an ideal solution for business formation entities.