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ALERT: FRAUD SCHEMES AROUND BOI REQUIREMENTS

By Pamela J. Bethel

The Financial Crime Enforcement Network (FinCEN) has learned of fraudulent attempts to solicit information from individuals and entities who may be subject to rereporting requirements under the Corporate Transparency Act (CTA). While the schemes are varied, they include –

  • Correspondence referencing a “US Business Regulations Dept.” This correspondence is fraudulent; there is no government entity by this name.
  • Correspondence that references a “Form 4022” or “Form 5102”. This is fraudulent. FinCEN does not have a “Form 4022” or a “Form 5102.” Do not send your business information to anyone by completing these forms.

  • Correspondence requesting payment. There is no fee to file BOI directly with FinCEN, and do not send money in response to any mailing that claims to be from FinCEN or any other government agency regarding filing your beneficial ownership information.
  • Correspondence that asks the recipient to click on a suspicious URL or to scan a suspicious QR code. Those e-mails or letters could be fraudulent.
  • Correspondence regarding penalties. FinCEN does not send initial correspondence regarding CTA penalties via e-mail or over the phone. Any such “notice” is fraudulent.

Also, the following statement that previously appeared at https://boir.org (an internet address that looks similar to federal agency addresses): “Boir.org (Beneficial Ownership Information Report) is an officially authorized service provider with the US Government or the Financial Crimes Enforcement Network (FinCEN).” This statement was false. This is not the internet address for any federal government agency.

FinCEN issued a public alert on December 18, 2024, to raise awareness of fraud schemes abusing FinCEN’s name, insignia, and authorities for financial gain. Learn more about these schemes and where to report them at: FinCEN Alert, FIN-2024-Alert005.

This blog is for educational purposes only. Nothing posted on this blog constitutes or substitutes for legal advice, which can only be obtained from a personal consultation with a qualified attorney. Using this blog does not create an attorney-client relationship between you and the authors and/or O’Riordan Bethel Law Firm, LLP. Although the authors strive to present accurate information, the information provided on this blog is not guaranteed to be complete, correct or up-to-date. The views expressed on this blog are solely those of the authors and do not necessarily reflect the views of O’Riordan Bethel Law Firm, LLP.