The Corporate Transparency Act is looking to help the government combat money laundering. Recently, bad actors have been using entity structuring to obstruct who is the actual bad actors behind the illegal activities. Until the Corporate Transparency Act, the Federal government had no way of knowing who owned or controlled different businesses entities.The Act took several years to get in place, but it has finally come into fruition starting on January 1, 2024. Starting then, companies will need to report to the government beneficial owners of the company and any time the beneficial owners change.The filings while seemingly simple will require a bit of analysis as the beneficial owner rules could include people who actually own the company to people who make significant decisions for the company. The penalties for failing to report or failing to properly report will be severe.This webinar will look at the ins and outs of the filing requirements in order to prepare you to help your clients navigate through these new rules. We will look at how the filings are completed, who is a beneficial owner, and other miscellaneous information you’ll need to properly advice your clients.Areas Covered What is the Corporate Transparency Act?New filing requirement deadlinesWhat is requirement for filing?Who is a beneficial owner?When do changes to the company need to be reported?Do these filings fall under practice of law.Why Should You Attend Starting in 2024, there is a new filing requirement for all small businesses. This requirement concerns who is the beneficial owner of the business. This filing stems from an initiative by the government to curb money laundering, so the penalties facing companies for not filing can be very stiff.This webinar will look at what the new requirements are for filing, who will need to make the filings and what will need to be disclosed to the government as part of the filings.