Video: Corporate Transparency Act 2024 – New Reporting Requirements for US-Based Small Businesses and LLCs

Tuesday January 2, 2024 Published in Corporate and Business

The requirements of the Corporate Transparency Act 2024 are now in effect. This webinar provides details on what to expect and what to provide for business owners and leaders.

For the first time in American history, the federal government will build a massive database of small business ownership. Entities will soon be required to report specific, identifying information on its business owners and partners. This is not simply listing people on a form; it includes gathering and providing government-issued identification documentation for each “beneficial owner.”

The government says its goal is to enhance national security, armed with better data and tools to fight crimes such as money laundering, cyber scams, drug trafficking, etc. Yet it is unclear how this information will be made available to other agencies for use in the future, such as the IRS. For now, business entities are expected to comply.

The latest details are provided by attorneys Kyle S. Baird and Jay R. Carson in this new 25-minute webinar presentation. (Click below to view.)

You can also find information here: Everything you need to know about the Corporate Transparency Act for 2024.

Now is the time to get your business matters reviewed, before the Corporate Transparency Act disclosure requirements begin for existing entities at the end of 2024. Feel free to call a member of our Corporate Transparency Act team if you have questions or need assistance. The direct line to our office is (216) 642-3342.

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