The Corporate Transparency Act
The Corporate Transparency Act (CTA) is aimed at enhancing corporate transparency and combating financial crimes, particularly money laundering and terrorist financing. Noncompliance with the CTA may result in significant fines and prison terms.
How We Can Help
Our team of CTA-focused attorneys can assist you with determining your company’s status as a reporting company for purposes of the CTA and whether an exemption applies. In the case of reporting companies, we provide additional guidance on compliance obligations, including evaluating beneficial ownership. If requested, we also assist clients with filing their BOI Reports or could refer you to third-party vendors.
Online Resources
FinCEN ID Application for Individuals
How to file the Beneficial Ownership Information Report
Beneficial Ownership Information Reporting FAQ
Small Business Compliance Guide (PDF)
Uncertainty Surrounds CTA — for Accountants and Small Biz (accountingToday)
