Description

Corporate Transparency Act
What every business needs to know to comply

Presenter:  Mariel Giletto
                   Chair, Diversity, Equity & Inclusion Committee
                   Flaster Greenberg, PC

New compliance begins this year

Learn how this law impacts every business & what you need to do to comply. 

  All new Reporting Companies (i.e., those created on or after January 1, 2024) must file with the Financial Crimes Enforcement Network (“FinCEN”) the Required Disclosures (including its beneficial owners, persons that substantially control the entity, and their company applicants) within 90 days of formation.

 All existing Reporting Companies (i.e., those which were created before January 1, 2024) must file the Required Disclosures (including its beneficial owners and persons that substantially control the entity) or determine if they are exempt by January 1, 2025. After the initial filing with FinCEN, all Reporting Companies, Beneficial Owners, and Company Applicants must report any changes to the Required Disclosures within 30 days of the change.