Form 5102 Scam
Form 5102 has recently become a new target for scammers trying to trick small business owners, including trucking companies, into paying fake fees and providing sensitive information.
To help you avoid this scheme, we’ve outlined some key details below on what to watch out for and how to keep your business safe from this fake “Form 5102” scam.
What is Form 5102?
Form 5102 is part of U.S. compliance requirements under the Corporate Transparency Act (CTA). It’s meant to help the government identify who owns or controls U.S. companies by requiring businesses to report anyone with major control or ownership. This info goes to the Financial Crimes Enforcement Network (FinCEN) and helps prevent criminal activities like money laundering.
Form 5102 Scam
The goal of the 5102 Scam is to get companies to send money and personal business info to scammers posing as government agencies.
Scammers are targeting companies with the form 5102 scam through the following:
- Letters or Emails: Scammers are sending out letters and emails that look official, often with names like “Annual Records Service” or “US Business Regulations Dept.”
- Form and Fee Request: The letter or email might include a real, blank Form 5102 and demand a fee, claiming it's a government compliance requirement. They may even threaten consequences if you don’t pay.
How to Spot and Avoid the Form 5102 Scam
Here are some tips to avoid falling for these fake requests:
- Double-Check Requests: Legitimate requests related to Form 5102 should come directly from government agencies like FinCEN, not third parties with vague names.
- Form 5102 Are Free: Filing an updated Form 5102 doesn’t require any payment or fee.
- Verify Through Official Channels: If you get one of these letters, confirm it’s legit by contacting FinCEN directly or through your trusted compliance partner. Don’t use contact info provided in suspicious letters.
- Educate Your Team: Make sure you or anyone handling company documents and payments knows to watch out for these scams.
Keep Your Business Safe
Don’t be fooled by scammers demanding Form 5102 and fees from strange sources. Follow
