Understanding the Corporate Transparency Act (CTA) and FinCEN Reporting (WEBINAR)

Details

Many businesses do not know that they are now subject to the CTA reporting obligations. Is your company one of them? The CTA requires reporting companies to disclose information about their “beneficial owners.” A “reporting company” under the CTA is a corporation, limited liability company (LLC), or any entity created or registered to do business in the U.S. by the filing of a document with a secretary of state or any similar office under the laws of a state or Tribe. Does this apply to your company?

Course Description:

The Corporate Transparency Act (CTA) imposes a new requirement for many entities to report control and ownership information to The U.S. Department of Treasury’s Federal Crimes Enforcement Network (FinCEN). The CTA went effect January 1, 2024, as a part of a federal effort to combat money laundering and other illegal activities through the use shell companies. Estimated to affect 32 million entities, many of which are small businesses, the CTA allows for significant civil and criminal penalties for non-compliance. This webinar will go over the key information you must know about CTA, including how to determine whether your business is subject to the CTA reporting obligations and what, how, and when you need to report to FinCEN.

Information Presented:

• • Overview of the Corporate Transparency Act
  • Entities Subject to Reporting; Exempt Entities
  • Beneficial Ownership and Substantial Control Defined
  • Reporting Deadlines and Procedures
  • Civil and Criminal Penalties for Non-Compliance

Who Should Attend:

• • Small business owners, LLC-members, partners, shareholders of reporting companies
  • Corporate executives, corporate board members
  • Anyone involved in business formation, management, or compliance

Join us for this essential webinar to gain clarity on the CTA and FinCEN reporting requirements to ensure your business stays compliant with evolving regulatory requirements. Don’t miss this opportunity to equip yourself with the knowledge and tools necessary to navigate the CTA’s compliance requirements.

Registration is required to attend this webinar. The Zoom link will be emailed to registrants prior to the webinar.

Speakers: Velinda Peralta Bolduc, Esq.

Staff Attorney, Northeast Legal Aid

Jenny M. Eldred, Esq.

Staff Attorney, Northeast Legal Aid

This informative webinar is offered at no cost and is being sponsored in partnership with Northeast Legal Aid, the North Shore Alliance for Economic Development and the Massachusetts Office of Business Development (MOBD). Maria Di Stefano, Northeast Regional Director, will provide an update on MOBD resources.