PABS Rolls Out PathQuest BOI for Effortless Beneficiary Ownership Information Reporting

IRVING, Texas, Oct. 1, 2024 /PRNewswire/ -- Pacific Accounting and Business Services (PABS), with its trailblazing subsidiary PathQuest, announces the launch of PathQuest BOI. This purpose-driven platform is designed to empower accountants, attorneys, payroll experts, business advisors, and incorporators by turning the regulatory requirement of filing Beneficial Ownership Information (BOI) reports into a lucrative revenue stream.

The new regulatory framework under the FinCEN BOI Corporate Transparency Act, effective from January 1, 2024, is aimed at combating financial crimes and fraud while increasing transparency in company ownership. Businesses are now required to file an initial BOI report, which includes sensitive personal data, with the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN). With strict penalties for non-compliance, over 33 million companies must submit their BOI report by January 1, 2025.

Anand Tated, Founder and CEO of PABS, emphasized the importance of timely compliance, stating, "The fast-approaching deadline and the complexity of the reporting process have put immense pressure on in-house teams. PathQuest BOI is designed to alleviate this burden by offering our partners a customizable platform that simplifies BOI reporting. Our built-in automatic reminders ensure clients stay informed and up to date, allowing for seamless compliance."

PathQuest BOI offers two distinct models:

PathQuest BOI Basic: Featuring a personalized client portal with your firm's branding, it ensures an easy, intuitive filing process. Clients benefit from seamless management through a user-friendly interface, while enterprise-grade security safeguards sensitive information. This platform integrates smoothly with existing workflows and provides full chat and email support for added convenience.

PathQuest BOI Pro:  A scalable solution designed to maximize profitability, PathQuest BOI Pro offers comprehensive compliance services managed by experts, allowing firms to focus on growth. It supports effortless integration into existing processes, simplifies the input of 51 required data points, and provides the flexibility to set your own fees. Full chat and email support are included, freeing firms from staffing challenges while boosting client engagement.

Professionals can choose the right fit from these two robust service levels to expand their offerings, reduce seasonal dips, and unlock new revenue streams. By assisting clients with BOI compliance, firms not only meet regulatory demands but also strengthen client relationships, enhance growth potential, and solidify their position as trusted advisors.

About PABS

With 15 years of accounting excellence, PABS is an outsourcing partner of choice for small and medium business owners for handling end-to-end accounting needs, allowing them to navigate rapidly evolving business dynamics and develop customer-centric focus. At PABS, we believe in driving impactful change by harmonizing people, processes, and technology. High-end accuracy is a trait that runs deep in the DNA of its 1000+ certified professionals serving 4000+ clients.

About PathQuest

PathQuest, a subsidiary of Pacific Accounting & Business Services (PABS), provides a suite of solutions—PathQuest BOI, BI, AP, and Scale—to simplify and automate business processes. From BOI compliance and financial data analysis to accounts payable management and scalable accounting services, PathQuest drives efficiency and growth.

Media Contact:
John Bugh 
Call: +1-214-435-1092 
Email: [email protected] 

Photo: https://mma.prnewswire.com/media/2520499/BOI_Reporting.jpg

SOURCE Pacific Accounting and Business Services (PABS)