The U.S. Corporate Transparency Act: What U.S. and Foreign Entities (and Their Advisors) Need To Do Now to Address the Fast-Approaching Filing Deadline

July 17, 2024 | Webinar | Session 1: For Viewers in the EMEA and Asia-Pacific Regions
July 17, 2024 | Webinar | Session 2: For Viewers in the Americas Region

Webinar Replay

Duane Morris presented a webinar, The U.S. Corporate Transparency Act: What U.S. and Foreign Entities (and Their Advisors) Need To Do Now to Address the Fast-Approaching Filing Deadline, on Wednesday, July 17, 2024.

Session 1 – For Viewers in the EMEA and Asia-Pacific Regions
8:00 a.m. to 9:00 a.m. New York time
1:00 p.m. to 2:00 p.m. London time
8:00 p.m. to 9:00 p.m. Singapore time

Session 2 – For Viewers in the Americas Region
12:00 p.m. to 1:00 p.m. New York time

Please note: The sessions are identical in subject matter and will cover the same issues. They are being presented at two different times to accommodate viewers in multiple time zones.

About the Program

Under the U.S. Federal Corporate Transparency Act (CTA), U.S. entities in existence, and foreign entities registered to do business in the United States, as of January 1, 2024, (existing entities) face a nonextendable deadline of January 1, 2025, to file their initial beneficial ownership report with the U.S. Department of Treasury Financial Crimes Enforcement Network (FinCEN). This report discloses the identity of all “beneficial owners” of the reporting entity and must include personal identifying documentation for each of those beneficial owners. A failure to timely file this report via FinCEN’s electronic system as of the January 1, 2025, filing deadline can result in the imposition of civil and criminal penalties.

This webinar will focus on:

• What Is a Reporting Company and the 23 Limited Exemptions from Reporting
• Who Is a Beneficial Owner and What Personal Information Must Be Collected and Provided to FinCEN
• Preparing and Filing the Initial BOI Report and Updates/Amendments

As of July 1, there are only 183 days left to act for existing entities. The CTA analysis and collection of personal information for all beneficial owners can be complicated and time-consuming. Those who wait until the last minute (or even the last month of the year) to start CTA compliance do so at their own risk. You will gain an understanding from this webinar as to why the time to focus on this new year-end filing requirement for existing entities is now.

Speakers

About the Duane Morris CTA Strategy Team

Duane Morris has a dedicated team of partners who comprise the Duane Morris CTA Strategy Team. Our CTA Strategy Team actively monitors developments regarding the CTA and issues Alerts on the topic, to which you may subscribe. Duane Morris will provide advice to clients related to CTA compliance, but only when explicitly engaged to do so in writing.