The Corporate Transparency Act and Its Impact on Private Client Transactions

Holland & Knight's Corporate Transparency Act Team hosted an informative presentation on the rules and issues that have risen in the private client area related to the Corporate Transparency Act (CTA). 

Topics Covered:

• How to deal with the Beneficial Ownership Information (BOI) Reporting Rules for private clients
• How to determine Beneficial Owners when a structure includes a trust
• Useful exemptions: private trust company, large operating company, subsidiary rule, etc.
• What to do when beneficial owners are recalcitrant or unreachable
• When is a senior officer liable for penalties?
• Financial Crimes Enforcement Network (FinCEN) identifiers for individuals and when should they be used?
• Privacy issues and agreements between reporting companies and beneficial owners
• Incorporating CTA provisions in documentation, including trusts, wills, LLC agreements and employment agreements
• When should an outside vendor be used?
• The proposed FinCEN transparency rules for residential real estate

Duration: 1:05:24