What are the best practices for maintaining records to meet regulatory compliance requirements?

By
David Senawi
Compliance
2
min read
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Maintaining proper records is a cornerstone of regulatory compliance. Best practices include implementing a structured record-keeping system that ensures documents are easily accessible, accurate, and secure. Digital record-keeping solutions can help automate and organize records, while also providing backup and security measures. Regularly review and update records to reflect current compliance standards, and establish clear guidelines for document retention and disposal. Ensuring that all records are up-to-date and properly stored will help your business remain compliant and prepared for audits or inspections.

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BOI Compliance, LLC (“BOI Comp”) is not affiliated with the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) directly. FinCEN permits third-party service providers to assist business owners in submitting reports through FinCEN’s BOI E-filing website or an Application Programming Interface. Once BOI Comp submits your report to FinCEN, you will receive confirmation. FinCEN does not charge a fee if you wish to navigate the government’s reporting application process yourself and submit your company’s BOI report directly to FinCEN.