MBE CPAs, a leading provider of accounting, tax, consulting, and other professional services, is collaborating with bankers, insurance providers, business associations, attorneys, and fellow accountants to assist their clients with Beneficial Ownership Information (BOI) reporting compliance.

The Corporate Transparency Act (CTA) mandates businesses to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) to curb money laundering and other illegal activities.

Commenting on this, MBE CPAs partner and BOI lead, Greg Patel, said: “Bankers, insurance providers, and business associations have day-to-day transactions with companies covered by the reporting requirement. By providing resources for BOI reporting and connecting them with MBE CPAs, they can enhance client relationships and demonstrate dedication to their success and compliance.”

MBE CPAs’ advisory services include preparing the initial BOI report based on the information and documentation provided by clients and submitting it to FinCEN. Patel further said: “We are dedicated to guiding businesses, providing support in determining whether an exemption applies, understanding reporting requirements, and facilitating timely submissions.”

The firm’s offering extends to attorneys and accountants who want to expand their services by outsourcing BOI filing to MBE CPAs. Patel concluded: “An accountant or attorney’s role is pivotal in helping clients comprehend their obligations, comply with regulatory requirements, and manage legal risks. However, not all accounting firms and attorneys provide specialized BOI reporting services, so we want to emerge as a valuable partner for them.”

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