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The Corporate Transparency Act: What You Need to Know

Content Provider
American Law Institute CLE
Product
CLE
Run Time
61 Minutes
Recording Date
11/10/2022
Presenter(s)
Jonathan B Wilson
Learning Method
On-Demand Training
Practice Area
Corporate and Business Law

Price $219.00

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Description

The Corporate Transparency Act was created as part of the Anti-Money Laundering Act (AMLA) to curtail financial impropriety. Now that it has been enacted, all corporations, limited liability companies, or other entities that are formed or registered to do business in the United States must file, and regularly amend, a beneficial ownership report with FinCen. Failure to comply with the CTA’s reporting requirements can lead to civil and criminal penalties. Join us for this 60-minute program to find out what information you must provide and processes you need to implement or revise to be compliant. Topics include: - The categories of personally-identifiable information (PII) required for each of the company’s “company applicants” and “beneficial owners.” - Understanding who is a “company applicant” - Understanding who is a “beneficial owner” - How does “substantial control” of the reporting company relate to an individual’s status as a “beneficial owner” - What are the 23 categories of companies that are exempt from filing a beneficial ownership report - When is a company required to file its first beneficial ownership report? - When is a company required to amend its beneficial ownership report?

Literature

State Status Total Credits Type Of Credit Approved Thru
AlabamaApproved1.00General12/31/2023
AlaskaApproved1.00GeneralOn-going
ArizonaApproved1.00GeneralOn-going
ArkansasApproved1.00GeneralOn-going
CaliforniaApproved1.00Participatory12/31/2027
ColoradoPending State Response0.00
ConnecticutApproved1.00GeneralOn-going
DelawareApproved1.00General11/09/2024
FloridaApproved1.00General08/31/2024
GeorgiaApproved1.00General12/31/2023
HawaiiApproved1.00General12/27/2024
IdahoApproved1.00General11/09/2027
IllinoisApproved1.00General01/09/2025
IndianaApproved1.00General03/12/2024
IowaApproved1.00General11/09/2023
KansasApproved1.00General01/05/2024
KentuckyApproved1.00General06/30/2023
LouisianaApproved1.00General01/05/2024
MaineApproved1.00General03/05/2025
MinnesotaApproved1.00General02/08/2024
MississippiApproved1.00General01/05/2024
MissouriApproved1.20GeneralOn-going
MontanaPending State Response0.00
NebraskaApproved1.01General11/09/2024
NevadaPending State Response0.00
New HampshireApproved1.00General11/09/2025
New JerseyApproved1.00GeneralOn-going
New MexicoApproved1.00General11/09/2027
New YorkApproved1.00SkillsOn-going
North CarolinaPending State Response0.00
North DakotaApproved1.00General11/09/2025
OhioApproved1.00General12/31/2023
OregonApproved1.00General11/09/2025
PennsylvaniaApproved1.00General01/05/2025
Puerto RicoApproved1.02General03/05/2024
Rhode IslandApproved1.00General06/30/2023
South CarolinaApproved1.02General12/31/2023
TennesseeApproved1.02General01/05/2024
TexasApproved1.00General01/21/2024
UtahApproved1.00General12/31/2023
VermontApproved1.00GeneralOn-going
VirginiaApproved1.00General10/31/2023
WashingtonPending State Response0.00
West VirginiaApproved1.22GeneralOn-going
WisconsinApproved1.00GeneralOn-going
WyomingApproved1.00General01/05/2024