Harvard Business Services Chooses FinCEN REPORT's Beneficial Ownership Reporting Software to Keep Clients in Compliance with the Corporate Transparency Act

News provided by

Oct 24, 2023, 08:47 ET

FinCEN REPORT will help thousands of Delaware LLCs and corporations working with Harvard Business Services to file beneficial ownership information required by the Corporate Transparency Act.

ATLANTA, Oct. 24, 2023 /PRNewswire/ -- FinCEN REPORT, a patent-pending tool for beneficial ownership reporting, has signed with Harvard Business Services, a Delaware formations specialist and registered agent, to offer Delaware registered companies an intuitive and secure online solution for filing beneficial ownership information (BOI) in compliance with the Corporate Transparency Act (CTA). Harvard Business Services has formed more than 300 thousand LLCs and corporations since 1981, and this deal marks a significant milestone for FinCEN REPORT, as Harvard Business Services is one of the largest formations specialists to date to sign onto FinCEN REPORT ahead of the Corporate Transparency Act's enactment date of January 1, 2024.

According to a CNBC report from 2023, more than 60% of Fortune 500 companies are incorporated in Delaware. Many Venture Capital firms use Delaware corporations exclusively, due to the stability, flexibility and fairness of the Delaware General Corporation Law (DGCL), and tens of thousands of independent entrepreneurs choose to form their LLCs in Delaware. The CTA will affect more than 30 million businesses in the U.S. --which includes thousands of companies formed with Harvard Business Services. FinCEN REPORT's software will ensure that Harvard Business Services' clients are able to easily upload and file their BOI while maintaining data privacy.

"We are honored that Harvard Business Services chose our software to help manage their clients' BOI reporting," said Jonathan B. Wilson, CEO and Founder of FinCEN REPORT. "The CTA will greatly impact registered agents, and our goal is to make sure that, through our software, they can easily comply and stay focused on their core business," he added.

"Harvard Business Services is excited to partner with FinCEN Report," said Michael Bell, President of Harvard Business Services. "We wanted to find the most advanced company that was ready to assist our clients with BOI reporting required by the Corporate Transparency Act," he added.

Congress passed the CTA in 2020 ---requiring the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) to build a beneficial ownership registry. The CTA will require more than 30 million U.S. businesses to report their BOI beginning on January 1, 2024. FinCEN will use the registry to crack down on anonymous shell companies, which have long been the financial vehicle of choice for money launderers, terrorists, and criminals. With FinCEN REPORT, Harvard Business Services and many other registered agents can ensure that their clients comply with the Corporate Transparency Act.

To learn more about FinCEN REPORT's customized BOI reporting solutions for registered agents, please visit https://fincenreport.com/. To schedule an interview with CEO Jonathan B. Wilson, please email [email protected] or call (404)-644-2779.

ABOUT FinCEN REPORT

FinCEN REPORT is an online filing service for reporting companies that must file beneficial ownership reports under the Corporate Transparency Act (CTA) beginning January 1, 2024. This patent-pending Software-as-a-Service (SaaS) tool is especially designed for business owners, and the professionals that manage their compliance, to meet these legal requirements. To learn more, visit https://fincenreport.com/.

Media Contact:
Joanne Sanders
404-644-2779
[email protected]

SOURCE FinCEN REPORT