Meeting the Mandate: Practical Business Reporting Insights

We often form business entities with objective of maintaining anonymity or privacy. The Corporate Transparency Act (CTA), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities.

Beginning January 1, 2024, new Federal regulations go into effect that will require many corporations, limited liability companies, and other entities created in or registered to do business in the United States to report information about their beneficial owners—the persons who ultimately own or control the company—to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

During this presentation we will review which entities are impacted, what information needs to be reported, what penalties are in place for those who fail to report.

This is a no-cost webinar event.