CAMICO continues to receive inquiries from policyholders regarding implications of assisting clients with the new beneficial ownership information reporting guidelines under the Corporate Transparency Act (“CTA”).
CAMICO issued a policyholder Alert in December 2023 on this topic, which included, among other things, a Frequently Asked Questions (“FAQ”) document that highlights many of the common inquiries we have received from policyholders. The FAQ has been updated, and to access the latest version, click Frequently Asked Questions.
CAMICO also just released Coverage Considerations for CPA Firms to provide further clarification regarding specific coverage-related considerations and implications of rendering CTA-related services. It can be accessed at: https://www.camico.com/wp-content/uploads/2024/02/CAMICO-CTA-Coverage-Considerations-for-CPA-Firms_02-2024.docx.
In addition to the above, CAMICO has developed the following engagement letter templates and sample management representation letter which are available on the Members-Only Site’s Engagement Letter Resource Center:
- Limited CTA Advisory Services — Filing of Initial BOI Report
- Administrative Services — Filing of Initial BOI Report
- Management Representation Letter — Filing of Initial BOI Report
CAMICO policyholders with questions should contact the Loss Prevention department by email at lp@camico.com or call 1.800.652.1772 and ask to speak with a Loss Prevention Specialist.
Additional risk management resources are available on CAMICO’s Members-Only Site.