Corporate Transparency Act - Update as of December 11, 2024

Corporate Transparency Act

December 11, 2024
UPDATE: A federal district court in Texas has issued a temporary injunction against enforcement of the Corporate Transparency Act (CTA). Everything is paused/on hold. This could change and come back on-line or the injunction may not be lifted for years. Moving forward to be in compliance by January 2025 is no longer necessary.

The Corporate Transparency Act (CTA) filing deadline is quickly approaching, with millions of businesses still needing to file their Beneficial Ownership Information (BOI) reports with Financial Crimes Enforcement Network (FinCEN). We’ll cover the key filing obligations, compliance strategies moving forward, and the impact on business operations. Whether you’re seeking to navigate the requirements or enhance your understanding of regulatory developments, this session is designed to equip you with the knowledge you need before that January 1, 2025 deadline. Don’t miss this opportunity to engage with industry experts and strengthen your organization’s compliance efforts!

𝗜𝗻 𝘁𝗵𝗶𝘀 𝗲𝗻𝗴𝗮𝗴𝗶𝗻𝗴 𝘀𝗲𝘀𝘀𝗶𝗼𝗻, 𝘆𝗼𝘂 𝘄𝗶𝗹𝗹 𝗹𝗲𝗮𝗿𝗻 𝗮𝗯𝗼𝘂𝘁:

The essential elements of the Act, including who qualifies as a reporting company and who is potentially exempt from filing.

What information is required to be reported, and for whom.

How Dinsmore & Shohl can assist you with determining your filing obligations and your company compliance.

𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗚𝗮𝗶𝗻:

Clarity on the filing obligations under the CTA, including who must report and what information is required to be reported before January 1, 2025.

Learn effective strategies for ensuring compliance with the Act, including best practices for data collection and reporting moving forward.

Learn about the obligations for filing updated or new company reports, including when and how to amend information related to beneficial ownership as circumstances change, or a new company is created, ensuring your compliance remains current and accurate.