Corporate Transparency Act/Beneficial Ownership Interest

The Corporate Transparency Act (CTA) is here, it is real, and many businesses - even very small ones - have an upcoming filing requirement. This controversial legislation aims to reduce instances of fraud and money laundering by requiring many businesses to file a report that indicates who all the "beneficial owners" of the business are. Further, any company subject to the CTA must make their initial filing before January 1, 2025, or face significant penalties.

In this session, you will learn about the CTA, its reporting requirements, and potential penalties for non-compliance. Don't risk running afoul of this new legislation. Make plans today to participate in this session so you can prepare to comply with the CTA.

Objectives

• Identify the characteristics of businesses that will have a CTA filing requirement
• Define the phrase "beneficial owner"
• List examples of characteristics that makes an individual a beneficial owner

Highlights

• Major objectives and provisions of CTA
• The rationale behind the legislation
• Filing requirements
• Penalties for not complying with the CTA

Who Will Benefit

Business professionals seeking to learn more about the CTA so they can comply with the new filing requirements

Credits