BOIR Filing Made Simple: The Clock is Ticking

As the 2024 FinCEN Beneficial Ownership Information Report (BOIR) requirements rapidly approach, accountants and law firms have a unique opportunity to support their clients through the challenging compliance process. However, navigating these new regulations can be both time-consuming and resource-intensive—especially with the complexities of identifying beneficial owners and ensuring the accuracy of KYC/KYB data.

This is where Simplici comes in. Our all-in-one platform simplifies BOIR filing by automating the collection, verification, and submission process, ensuring deadlines are met and compliance is maintained effortlessly for your clients.

Key BOIR Challenges Facing Accountants & Law Firms:

• Identifying Beneficial Owners: Ownership structures are often complex and frequently changing, making it difficult to track the true beneficial owners.
• Manual Data Collection & Verification: The KYC/KYB process is labor-intensive, prone to errors, and time-consuming when done manually.
• Risk of Non-Compliance: Failing to submit accurate and timely BOIR filings exposes your clients to significant penalties and reputational damage.

Simplici: The All-in-One Solution for BOIR Compliance

Our platform helps accountants and law firms streamline their workflows while ensuring full compliance with the latest FinCEN regulations. Here’s how Simplici makes BOIR compliance simple and efficient:

• Automated KYC/KYB Verification: Quickly collect and verify information on beneficial owners using a secure, white-labeled platform integrated with global databases. This ensures data is accurate, and up-to-date, and minimizes filing errors, reducing compliance risks and protecting your clients from penalties.
• Built-In AML Compliance: Simplici automatically screens beneficial owners and businesses against global watchlists, PEPs, and sanctions databases in real-time, ensuring seamless Anti-Money Laundering (AML) compliance.
• Comprehensive Reporting & Monitoring: Gain real-time insights into your clients' compliance status, generate custom reports, and track progress—all from one intuitive dashboard.

Benefits of Simplici for Your Firm

• Streamline Compliance Workflows: Automate up to 90% of the BOIR filing process, reducing administrative burdens and allowing your team to focus on higher-value tasks.
• Enhance Client Service & Retention: Offering a seamless compliance solution sets your firm apart, demonstrating your commitment to safeguarding your client’s business interests.

By partnering with Simplici, your firm will be equipped to handle the upcoming BOIR regulations efficiently and cost-effectively. Stay ahead of the compliance curve, protect your clients, and position your firm for new growth opportunities.

For more information on how Simplici can help your firm streamline BOIR compliance and deliver exceptional value, Book a 15-minute Call Here or talk to Jim Delaney .