Tune in at noon eastern, February 10th, for a rebroadcast of my presentation on The Corporate Transparency Act: What You Need to Know.
A sweeping update to the U.S. anti-money laundering laws, the CTA dramatically changes how founders and investors in privately held companies — including law firms — interact with each other, and requires companies to file beneficial ownership reports with FinCEN with detailed background information about shareholders, partners, and company dealings.
With roughly 25 million U.S. companies likely to be affected, much is at stake. This webcast guides you through the steps corporations, limited liability companies, or other entities must now take to file or amend a beneficial ownership report under the CTA. Get answers the following questions and more:
- What is a "company applicant" and a "beneficial owner"?
- What information is required from "company applicants" and "beneficial owners"?
- How does "substantial control" relate to an individual's status as a "beneficial owner"?
- What are the 23 categories of companies that are exempt from filing?
- When is a company required to file or amend a beneficial ownership report?
Bonus! Model clauses for CTA compliance are included in the course materials.
About The Author
Jonathan Wilson is the co-founder of FinCEN Report Company with 31 years of experience in corporate, M&A and securities matters. He is the author of The Corporate Transparency Act Compliance Guide (to be published by Lexis Nexis in the summer of 2023) and the Lexis Practical Guidance Practice Note on the Corporate Transparency Act.