Compliance is a bigger issue for small businesses than ever before, with the average small business owner drowning in compliance and regulations.

“The average small business owner spends an average $83k their first year in business on compliance, which for a lot of small business owners is more than they take home their first year, “ Alex Goode, Palm CEO and co-founder. “In addition, small businesses can spend 200+ hours per year on compliance depending on their industry and over 10% don’t even know the source of the regulations impacting their business. Palm is here to bring peace of mind to small businesses through automated compliance filing and transparency in one easy-to-manage digital wallet, created specifically to solve this problem for them.” 

This year, new urgent deadlines will be enforced for small businesses with Beneficial Ownership Information reporting requirements from FinCEN. FinCEN initiated this mandate as part of the Corporate Transparency Act against financial crimes and fraud, however it's a new and relatively unknown regulation for most small business owners and fines for not filing are severe as well as penalties such as jail time. That's where Palm comes in to help.

When you sign up with Palm, we'll file your BOIR for free, while most others are charging for the service. When you sign up for a Palm Plus membership, we will also automate your future annual compliance filings and store your most important documents all in one place. Peace of mind for small business owners is finally here.

If you want to learn more about how to file your BOIR for free with Palm, or more about filing your BOIR in general, you can visit our blog or website. Unsure if you have to file or not? You can also take our BOIR quiz to see if you are mandated to file your BOIR and learn where, how and when to easily file with Palm's free, easy & automated process.

We're here to bring peace of mind to small businesses like yours.