Webinar – The Advisors’ Forum: The New Corporate Transparency Act – What Advisors Need to Know

Presented by Elville and Associates’ Managing Principal and Lead Attorney Stephen Elville, our second quarter Advisors’ Forum will focus on the new Corporate Transparency Act and reporting requirements involved in this new law.
Effective January 1, 2024, the Corporate Transparency Act (CTA) requires many business entities – such as corporations, limited liability companies (LLCs), and other similar entities – formed or operating in the United States to file Beneficial Ownership Information Reports (BOIR) with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.

The CTA is part of the National Defense Authorization Act and includes significant reforms to anti-money laundering laws and is intended to help prevent and combat money laundering, terrorist financing, corruption, and tax fraud. It is the first ever federal legislation requiring the reporting of beneficial owners and is expected to impact more than 32 million existing businesses and over five million newly formed businesses per year going forward.

Topics include:
• Background about the CTA
• What are “Reporting Companies,” Company Applicants,” and “Beneficial Owners?”
• Who must file a “Beneficial Ownership Information Report (BOIR)?”
• What must be reported to the Financial Crimes Enforcement Network (FinCEN)?
• What are the exemptions?
• What steps must one take to comply?
• Filing deadlines and potential pitfalls, compliance and penalties

To RSVP ahead of time and receive your personal link to attend, please click here.

Should you have questions ahead of time, please contact Community Relations Director Jeff Stauffer at 443-216-9626 x117 or jeff@elvilleassociates.com.

For Certified Financial Planners, CPAs, and other professionals, 1.0 continuing education hour will be available for attending this presentation. We look forward to hosting you!

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