The Corporate Transparency Act (CTA) isn’t just a one-time regulation—it introduces ongoing compliance requirements that evolve with your business. Whether your company was established before 2024 or is newly formed in 2024 and beyond, staying ahead of reporting obligations is critical to maintaining compliance and avoiding penalties.
Under the Corporate Transparency Act, businesses must report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). However, compliance doesn’t stop at the initial report. Any significant changes in corporate structure, such as leadership transitions, changes in ownership, or modifications to key business details, may trigger new reporting requirements. Failing to update this information in a timely manner can result in substantial fines and other legal consequences.
This webinar will explore:
- Who Needs to Report: Clarification on which businesses are required to submit beneficial ownership information.
- What Changes Trigger Reporting Requirements: Key events that necessitate an updated filing, including changes in ownership, board composition, or corporate structure.
- How to Stay Compliant: A step-by-step guide to maintaining accurate records and ensuring timely reporting.
- Consequences of Non-Compliance: Understanding the risks and penalties associated with failing to meet Corporate Transparency Act requirements.
- Best Practices for Ongoing Compliance: Strategies to establish a streamlined compliance process and avoid last-minute filings.
As your business grows and evolves, so do your reporting responsibilities. Don’t let compliance become an afterthought—stay proactive and ensure your organization remains in good standing.
By partnering with EntityKeeper, organizations can alleviate this burden and mitigate the risk for non-compliance across entities, beneficial owners, and company applicants.
