TaxBandits’ FinCEN Compliance Reminders for Tax Pros – New Feature in BanditConnect

We are excited to introduce a super exclusive feature for tax pros –  FinCEN Compliance Reminders. This feature is designed to significantly reduce the manual follow-ups involved in managing BOI reporting for your clients, saving you time and effort and allowing you to focus on more important tasks.

As you all know, BanditConnect is a secure client management portal that keeps your clients’ information safe and enhances collaboration and communication. This platform offers a secure and seamless way to exchange information, reduces your bulk workflow process, and enables your clients to fill out their reports through collaboration. Now, we are adding one more top-notch feature to BanditConnect: the “FinCEN Compliance Reminders.”

This amazing feature easily integrates into your existing workflow, helping you manage your clients’ business updates and ensuring timely submission of their BOI reports.

In this article, we’ll explore this new feature, how to use reminders, and how they can assist your clients in the reporting process.

Benefits of FinCEN Compliance Reminder Feature

Timely submission with up-to-date information is important in the BOI reporting process. As a CPA, managing this reporting process for multiple clients, each carrying different deadlines and new updates in their business requirements. Of course, it’s not an easy task to manage all your clients with regular updates on their business and their reporting deadlines.

That’s why we have created a super exclusive solution: FinCEN Compliance Reminders! Let’s take an overview of the different reminders you can set and how these can help you manage the reporting process.

Business Update Report Reminder

Scenario: Your client’s beneficial ownership has changed.

After submitting your client’s initial BOI report with FinCEN, several days later, the information you provided about their beneficial owners has changed, but you were unaware of these changes. This incorrect information puts your clients at risk.

Solution: Schedule automatic reminders about their business updates.

With the “Business Updates Report Reminders” feature in BanditConnect, you can easily set up reminder notifications for your clients to remind them about any updates on their business. You can customize how often reminders should be sent.

These reminders notify your clients to check if there are any business updates and help determine if an updated report must be filed. This way, your clients will inform you when there are changes in their information, prompting you to file a new BOI report with the current information.

Deadline Reminder

Scenario: Your client’s reporting deadline is approaching soon.

You have started the initial BOI report for your client but haven’t completed it yet since the client hasn’t provided you with a few details that need to be reported. An idle or incomplete BOI report can lead to submission delays or hefty penalties for missing deadlines.

Solution: Set up automatic reminders about the deadline to complete their BOI report on time.

The “Deadline Reminder” feature in TaxBandits allows you to set up automatic reminders that notify the client regarding their approaching BOI reporting deadline. This helps keep the reporting workflow on track, avoiding unnecessary delays and ensuring timely submission.

Key Takeaways on FinCEN Compliance Reminders

The FinCEN compliance reminder feature is tailored to keep your clients’ reporting progress and information on track and up-to-date, ensuring their submissions are timely.

In addition to these automated FinCEN compliance reminders, TaxBandits offers various exclusive features with an excellent workflow that simplifies your BOI reporting process from start to finish without any unwanted implications. 

In addition, our e-filing software is also built with advanced security standards and measures that safeguard sensitive data.

With TaxBandits, you can simplify the BOI reporting process and enhance your ability to effectively serve your clients.

 154 total views,  3 views today