Corporate Transparency Act Compliance: Beneficial Ownership Reporting, Filing Requirements and Exceptions
Tax attorney Alan Granwell and White Collar Defense and Investigations attorney Eddie Jauregui will host a Strafford webinar discussion on the beneficial ownership reporting requirements under the Corporate Transparency Act (CTA). Effective Jan. 1, 2024, the CTA mandates certain U.S. and foreign companies to report information about their beneficial owners and company applicants to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). This information will be housed in a non-public database maintained by FinCEN in an effort to prevent anti-money laundering, terrorist financing, tax fraud and other illicit activities. Companies face steep penalties for non-compliance, making it imperative to take steps now to review the key provisions of the CTA and determine what information needs to be shared. During this webinar, Mr. Granwell and Mr. Jauregui will provide a comprehensive overview of the CTA reporting rules, breaking down what companies are considered reporting companies under the act, how to determine who is a beneficial owner and how the law affects domestic and foreign entities.