b'applicant(s).businesses being morepany becomes aware of or has reasonCampspot Launches New Note: this is the governments move- to believe that any previously submit-ment towardsted required information was inaccu-transparent about ownership.rate upon filing stands as inaccurate.Auto-Charge Balance Rule For more information and to file, Whos a Beneficial Owner?visit: https://www.fincen.gov/boi. Defining Beneficial Owner is in-strumental to your reporting obliga- ChristineTaylor,isaprincipalCampspothasannouncedanew tion.ABeneficialOwnerisanpartner at The Towne Law Firm, P.C.Auto-ChargeBalancerulethatauto-individual who either has substantialin the firms Albany, New York, office,matestheprocessofcollectingout-managerial control over a reportingwho focuses her practice in the areasstanding reservation balances before company or directly or indirectly ownsof hospitality law, business law, laborguests arrive in the park. over 25% of the ownership interests ofand employment law, real estate law,The Auto-Charge Balance rule not areportingcompany. Therecanbetrusts and estate law and litigation.only helps to streamline operations but more than one and if so, that informa- Taylor has grown up in the campingalsocreatesamorecontactlessand tion should be disclosed in the report.industry, her family has owned threecashless process for guests, according to campgroundsinboththeKamp- a press release.Campspot platform helps to reduce the Whos a Company Applicant?grounds of America Inc. (KOA) andHighlights of the feature include:time that Campground operators spend A Company Applicant is an indi- Yogi Bears Jellystone Park Camp-Re-Automated Balance Collection: Thison administrative tasks, notes the release. vidual who filed the initial creationsort franchise systems. Park ownersautomation greatly reduces the need forBryann Peirson, business operations documents for a domestic reportingcan email info@townelaw.com for amanual balance collection during guestanalyst at Northgate Resorts, estimates company or filed the documents for achance to have their questions an- check-in or over the phone. This newsavings of over 900 hours in a year. foreign reporting company to do busi- swered.WCM rule lets parks automate this task seam- To better cater to consumer spend-ness in the United States. Again, infor- lessly for most reservations.ing habits, we introduced partial de-mation about company applicants is Seamless Guest Communication:posits at booking, says Peirson. This only required for companies that wereCampspot makes it easy to keep guestsboosted advanced bookings but led to in the loop with automated email noti- increased administrative time. With a created before Jan. 1, 2024.Check us out Online!fications about upcoming charges de- little over 36,000 reservations in 2023Reporting Updates or Inaccuracieswoodallscm.com tailing the exact amount to be collected.that were booked at 50% payment or from Initial FilingFlexibleConfiguration:Camp- less in our portfolio of parks, processing If there are any changes or updatesgroundscantailortheruletotheirat 90 seconds per booking amounted to needs by setting it to charge guests 72a minimum of 900 hours. Thats almost to the information filed previously tohours or more before their arrival. The23, 40-hour work weeks! This enhance-FinCEN, reporting companies have 30date groups and site types can also bement will allow us to redirect resources days to submit an updated report. Ad- Scan to configured to best meet campgroundto our core focusproviding excep-ditionally, if any information filed pre- subscribe needs.tional service to our camping guests! viously is discovered by a reportingto our daily Charge for all Costs: Guests are au- To learn more about this and other companytobeinaccurate,thereisnews feedtomatically charged for all costs on atoolsonCampspot,visit only a 14-day window for the reportingand printreservation including those from anysoftware.campspot.comoremail company to submit a corrected reportpublications add-ons and fees.sales@campspot.com to speak to a sales after the date when the reporting com- Automationlikethiswithintherepresentative. WCMWOODALLSCM.com April 2024 31'