The Corporate Transparency Act, which requires beneficial owners of nearly every entity to report to FinCEN unless a specific statutory exception applies, went into effect January 1, 2024. According to this act, newly formed entities will have only 90 days to register, while existing entities will have one year to comply.

This CLE course will offer an introduction to the CTA, and its impact on the practice of attorneys who form, transfer, operate, or otherwise works with legal entities, all of whom will be affected.

The course will advise on how to identify a Reporting Company and the requirement to be disclosed as a Beneficial Owner. Exceptions to the registration requirement, as well as information to be disclosed, identifying Company Applicants and their reporting obligations will be presented, as will practical examples and applications. The course will conclude with clarification of remaining areas of ambiguity under the act.