Introduction
Business Entities considered reporting companies under the Corporate Transparency Act (CTA) can have their Company Applicants tracked in GEMS if Administrators have enabled CTA-related fields (see How to Enable Entity Fields Related to the US Corporate Transparency Act (CTA) and FinCEN (Admin Only) for more information on enabling CTA-related fields).
GEMS users can choose between two possible methods for tracking a reporting company's Company Applicant(s): they can be tracked via the reporting company's Basics Screen OR the reporting company's Appointments Screen.
Please note: Only one of two methods for tracking Company Applicants should be used per reporting company.
How to Track Company Applicants via the Reporting Company's Basics Screen
To enter information for a reporting company's Company Applicant(s), navigate to the reporting company's Basics Screen by opening the reporting company's Snapshot, clicking View More Details, then clicking Basics.
Click Edit.
Under the Corporate Transparency Act (FinCEN) section, enter the FinCEN ID for the Company Applicant(s) in the "Company Applicant 1 - FinCEN ID" field and, if necessary, the "Company Applicant 2 - FinCEN ID" field, then click Save.
How to Track Company Applicants via the Appointments Screen
To record a Company Applicant for a reporting company as an Appointment, navigate to the reporting company's Appointments Screen by navigating to the company's Snapshot, clicking View More Details, then clicking Appointments.
Click New Appointment.
Next to the "Title" field, click the Lookup List icon, then locate and click Company Applicant.
Enter the rest of the Appointment details as needed, then click Save.
Please note: To ensure that GEMS will be able to capture all necessary data for generating BOIRs in a future release, record the FinCEN ID for the entity appointed as a Company Applicant on said entity's record. See How to Track FinCEN IDs for Business Entities, Persons, and Non-Affiliates for steps on how to record the FinCEN ID.