Preparing for the Corporate Transparency Act

The Corporate Transparency Act was created as part of the Anti-Money Laundering Act (AMLA) to curtail financial impropriety. When enacted, all corporations, limited liability companies, or other entities that are formed or registered to do business in the United States will be required to 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 webcast to find out what information you should start gathering and processes you should be implementing or revising before it is too late. 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?