Enforcement begins March 21, 2025
Effective March 21, 2025, the Corporate Transparency Act (CTA) requires privately held businesses to report their Beneficial Ownership Information (BOI) to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).
By knowing who owns or controls trucking companies, federal agencies can more effectively enforce regulations, address safety issues and reduce crimes linked to anonymous business authorities.
*Filing BOI information is a one-time requirement unless authority updates or changes are made within your business.
Navigating these new requirements can be complex.
Federal Processor will guide you through preparing and submitting your report to FinCEN, ensuring all information is complete and accurate so you can focus on your company.
Large operating companies are not required to report their Beneficial Ownership Information to FinCEN.
| No. | Company Type | No. | Company Type |
|---|---|---|---|
| 1 | Securities reporting issuer | 12 | Insurance company |
| 2 | Governmental authority | 13 | State-licensed insurance producer |
| 3 | Bank or Credit Union | 14 | Commodity Exchange Act registered entity |
| 4 | Inactive entity | 15 | Accounting firm |
| 5 | Depository institution holding company | 16 | Public utility |
| 6 | Money services business | 17 | Financial market utility |
| 7 | Broker or dealer in securities | 18 | Pooled investment vehicle |
| 8 | Securities exchange or clearing agency | 19 | Tax-exempt entity |
| 9 | Other Exchange Act registered entity | 20 | Entity assisting a tax-exempt entity |
| 10 | Investment company or investment adviser | 21 | Subsidiary of certain exempt entities |
| 11 | Venture capital fund adviser | 22 | Large operating companies |
