The Corporate Transparency Act - Are You Ready?

Pursuant to the Corporate Transparency Act (CTA), most small businesses must file information disclosing information and identities of owners of those small businesses with the Financial Crimes Enforcement Network (“FinCEN”) so that the data can be accessed by law enforcement, the IRS, certain other agencies, and select financial services companies in a new federal government database called Beneficial Ownership Secure System (BOSS).The CTA is part of the U.S. government’s efforts to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures.

Join Michael Fiffik Esquire for an overview of the Corporate Transparency Act:

• Background
• Key Dates
• Reporting Companies
• Contents of BOI Reports
• Filing Process
• Who are the Beneficial Owners?
• Who is a Company Applicant?
• Obligations to Update BOI Reports
• Penalities for Violations
• What You Should Be Doing Now