The Corporate Transparency Act: What You Need to Know

The Corporate Transparency Act (CTA) will require certain entities – such as corporations, limited liability companies (LLCs) and other similar entities – to report to the federal government identifying information about the individuals who directly or indirectly own or control a company within scope of the new legislation.

The CTA, which enters into force on January 1, 2024, is the first ever federal legislation requiring the reporting of beneficial owners and is expected to impact more than 32 million existing businesses and over 5 million newly formed businesses per year going forward.

Please join Holland & Knight and Hutchinson and Bloodgood for a discussion that will address what you need to know to comply with the CTA. Please register below.

Topics include:

• Background
• What is a reporting company?
• What entities are out of scope?
• What entities are exempt from reporting?
• Who is a beneficial owner?
• Who is a company applicant?
• What information must be disclosed in a report?
• What is a Financial Crimes Enforcement Network (FinCEN) identifier?
• When are reports due?
• What are the penalties for noncompliance?
• What steps should one take to comply?
• What's next?
• Q&A Session

We hope you can join us for this highly informative presentation.