Clint Weeder and Andrew Steffensmeier discuss the Corporate Transparency Act (CTA) and the recent regulatory changes that may affect your business.
CTA aims to combat money laundering and financial crimes by requiring certain entities to report beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN).
In this presentation, we discuss:
Background of the Act
Reporting Deadlines
Who Needs to File / Who is a Beneficial Owner?
Why You Should File
Legislation Updates