Presenter: Lauren Burgon, Law Office of Lauren Burgon
Title: Corporate Transparency Act – Beneficial Ownership Reports: What is it and why do you (need to) care?
Effective January 1, 2024, the Corporate Transparency Act requires certain entities, such as corporations, LLCs and other similar entities, to report identifying information about the individuals who directly or indirectly own or control the entities by submitting a Beneficial Ownership Interest report to the Department of the Treasury’s Financial Crimes Enforcement Network. It is estimated that nearly 40 million companies are required to submit these reports in 2024. I will be discussing how to determine if your entity is a reporting entity, how to report, when to report, and what to report.
By attending this workshop, you will learn:
- What is the Corporate Transparency Act and does it apply to my business?
- What is a Beneficial Ownership Interest Report?
- When does my business have to file its Beneficial Ownership Interest Report under the Corporate Transparency Act?
- How do I file my business’s Beneficial Ownership Interest Report?
- Who are my business’s Beneficial Owners?
About Our Presenter
Because my clients are small business owners, any new regulatory requirement can be a headache as well as have financial costs, so I have been following the rollout of the Corporate Transparency Act closely. While most of my clients are required to file a Beneficial Ownership Interest Report under the Corporate Transparency Act, they often aren’t clear on how, or when to file, and whether any exemptions apply to them.
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