FinCEN

Definition

FinCEN, the Financial Crimes Enforcement Network, is a bureau of the U.S. Department of the Treasury responsible for collecting and analyzing financial transaction data to combat money laundering and other financial crimes. In the context of the Corporate Transparency Act, FinCEN maintains the database where reporting companies file their Beneficial Ownership Information reports. CPAs and their business clients must interact with FinCEN to meet BOI reporting requirements.