The Corporate Transparency Act (CTA) legislation goes into effect on January 1, 2024 and introduces beneficial ownership reporting requirements for new and existing companies. The new CTA reporting requirements apply to corporations, limited liability companies, and other entities that fall within the CTA’s definition of “reporting company.” The beneficial ownership information will be collected and accessed through the Financial Crimes Enforcement Network (FinCEN), a branch of the U.S. Department of the Treasury.
Join CSC Associate General Counsel Paul Hodnefield for this webinar that offers a high-level overview of the CTA as well as updates on what is known about the act, and new information regarding reporting obligations.
Specific topics include:
• Proposed deadlines for reporting, corrections, and update obligations
• Clarification of what constitutes “substantial control”
• The concept of “company applicant”
• Specific information required for beneficial owners and company applicants
• Recent FinCEN updates
