CAMICO Provides BOI Coverage FAQs and BOI Resources

CAMICO, NJCPA's preferred provider of accountants malpractice insurance, has provided FAQs on common coverage-related inquiries from CPAs who are considering providing beneficial ownership information (BOI) reporting services to clients under the Corporate Transparency Act (CTA). This is in response to the concern that CPAs helping clients in this arena could be deemed as engaging in the unauthorized practice of law (UPL).

• Download the FAQs

CAMICO has also provided the following BOI resources:

• Management Representation Letter - Filing of Initial BOI Report
• Engagement Letter - Administrative Services - Filing of Initial BOI Report
• Engagement Letter - Limited CTA Advisory Services - Filing of Initial BOI Report
• Client Notification Letter - BOI Reporting

The NJCPA has submitted a request to the New Jersey Supreme Court's Committee on the Unauthorized Practice of Law to make a determination as to whether BOI assistance is considered UPL in New Jersey. The committee is meeting in March; we will share their response as soon as it is available. And access additional BOI information, resources and events in our BOI Knowledge Hub.