Corporate Transparency Act: Navigating Beneficial Ownership Reporting

Course Description: This course provides a detailed overview of the Corporate Transparency Act (CTA) and its requirements for reporting beneficial ownership information (BOI) to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). Participants will learn the definitions of beneficial ownership, understand reporting deadlines, and become familiar with the entities subject to or exempt from these rules. The session will also address the steps for electronic filing, common pitfalls to avoid, and penalties for non-compliance.

Course Objectives:

1. Explain the core components and objectives of the Corporate Transparency Act.

2. Identify the types of entities required to report and those exempt from reporting.

3. Define beneficial ownership and distinguish individuals who meet the reporting criteria.

4. Understand the process for submitting beneficial ownership information through FinCEN’s electronic system.

5. Understand the consequences of non-compliance