Time's Running Out: The Corporate Transparency Act Will Make or Break Your Business

Event description

The Corporate Transparency Act is a federal law that aims to deter money laundering and other illicit and illegal activities by forming shell and sham entities that obfuscate the true ownership of corporate entities. 

Effective January 1, 2024, the United States Financial Crimes Network mandates the filing and disclosing of beneficial ownership information reports to the United States Department of Treasury. This mandatory requirement includes Limited Liability Corporations, C-Corporations, certain Statutory Trusts, and Limited Partnerships. Failure to adhere to the required filing requirements carries civil and criminal penalties.