Some businesses are exempted from reporting under the Corporate Transparency Act (CTA). To name a few, exemptions are granted to:

Among the covered entities are the following:

Banks
Credit unions
Insurance companies

Large operating companies having the following attributes:

Having at least twenty full time employees in the U.S.
Gross receipts or sales of over $5 million
Physical place of business in the United States
Charities and Churches
Dormant qualifying entities:.

Under the CTA, you are under obligation to report information on the company and its beneficial owners, which includes the following:

Company Information:

Legal name of the entity.

Any other trade name or "doing business as" (DBA) names.

Business address

State or country of formation

Employer Identification Number

Beneficial Owner Information

Full legal name

Date of birth

Current residential or business address

Unique identifying number from acceptable identification

documents (passport or driver's license)

Copy of identification document.

A beneficial owner is defined as any individual who, directly or indirectly, owns or controls 25% or more of the ownership interests in such company or exercises substantial control over the entity.

Company Applicant: The person lodging the articles of incorporation or registration to form the company (for newly incorporated companies). This may include specialists such as lawyers or service agents responsible for the incorporation of the company.

Newly incorporated companies: You need to file your return within thirty days after incorporation or registration. Existing companies: The reporting deadlines will, however depend on when the reporting regulations take effect, but existing companies will have one year from the effective date of the CTA regulations to submit their initial report.

Updating Information: In case any of the reported information changes; for instance, ownership or addresses, the same should be updated within 30 days of that change.

You can apply for a business loan by visiting any CNB Bank & Trust branch, contacting a loan officer, or starting the application online through our website.

The approval process typically takes a few business days, but the timeline can vary based on the loan type, the amount requested, and the documents provided.

Yes, CNB Bank & Trust provides financing options for start-up businesses, including SBA loans and other tailored lending solutions designed for new ventures.

The loan amount is based on your business’s financial health, creditworthiness, and the specific loan product. A loan officer will work with you to determine your eligibility and borrowing capacity.

A Secure Access Code (SAC) is a one-time, multi-factor authentication code used to verify your identity when logging in from an unrecognized device.

Your SAC code will be sent to you via your chosen contact method, such as text message, email, or a phone call.

If you're a new user, you can sign up for Digital Banking by visiting the CNB Bank & Trust website or mobile app and selecting the "Enroll" option to create an account.

CNB Digital Banking is free for all personal and business banking customers.

Yes, CNB Bank & Trust offers financing options for manufactured homes, subject to specific eligibility criteria. Speak with a loan officer for more information.

Property appraisals typically take 7 to 10 business days to be completed, depending on the property location and market conditions.

Yes, both are recommended. A home inspection assesses the condition of the property, while an appraisal determines its market value for lending purposes.

Yes, if the property is located in a federally designated flood zone, CNB Bank & Trust will require flood insurance as part of the loan approval process.

Minimum balance requirements vary by account type. Some accounts may have no minimum balance, while others may require a specific amount to avoid fees.

Yes, you can access your personal checking account online through CNB Digital Banking, available on the CNB Bank & Trust website.

Yes, CNB Bank & Trust offers a mobile app that allows you to manage your checking account, transfer funds, and deposit checks conveniently.

CNB Bank & Trust does not charge ATM fees at its own ATMs, but fees may apply when using non-CNB ATMs. Some accounts may offer ATM fee rebates.

BOI Star Savings Account has no minimum balance requirement, but other savings accounts like the BOI Star Super Savings Account may have different minimum balance criteria depending on the branch and type of account.

The interest rate for Savings Accounts at BOI varies based on the type of savings account and prevailing rates. Typically, it ranges from 2.70% to 3.50% per annum. It’s advisable to check with your branch or the bank’s website for the latest rates.

Yes, BOI provides the facility to open a Savings Account online through its website or mobile application. You can fill out the application form, upload the necessary documents, and complete the verification process online.

Customers can report any issues or complaints related to their Savings Accounts through:

BOI’s Customer Care: Call the toll-free number or email.

Online Grievance Redressal System: Accessible through the bank’s website.

Visiting the Branch: Lodge a complaint in person at any BOI branch.

BOI Wealth Management Services include:

Portfolio Management Services (PMS).

Mutual Funds.

Equity and Debt Investment Advisory.

Real Estate Investment Advisory.

Estate Planning.

Retirement Planning.

Insurance Solutions.

BOI’s Portfolio Management Services involve a dedicated portfolio manager who designs and manages an investment portfolio based on your risk appetite, financial goals, and investment horizon. PMS can include investment in stocks, bonds, and other financial instruments.

Yes, BOI offers tax planning and advisory services as part of its Wealth Management portfolio. It helps clients minimize their tax liabilities and optimize investment returns by leveraging tax-saving instruments.

Yes, BOI’s wealth management team provides clients with real-time market updates, investment opportunities, and tailored advice through periodic meetings, newsletters, and digital channels.

Fees and charges vary based on the type of service availed, such as portfolio management, advisory services, and investment options. These fees could include management fees, performance fees, and transaction charges. Clients should review the fee structure with their relationship manager.