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The end of another year is here! As we prepare for the months ahead, our team took some time to reflect on recent entity management trends, new regulations, and tips for simplifying the entity management process – and pulled out some of our favorite content on these topics.

Below, we curated a list of our top 5 blogs of 2023. See if your favorites made the list!

 

  1. Prevent Missed Deadlines and Create Efficiencies with Entity Management Software

Legal entity management is a crucial aspect of running a business, ensuring that your company remains compliant with state and federal regulations. But the pressure can be high when managing compliance and filing deadlines for multiple entities. Legal entities have different filing deadlines depending on the type of entity. Further, each state has specific due dates and requirements that can cause additional complications when juggling several deadlines. Firms with multiple entities can easily overlook an upcoming deadline and be charged as much as 25% of unpaid taxes as a late fee. It is essential to stay up-to-date with the latest legal entity filing requirements to avoid such penalties or legal issues.

In this blog, we define entity management, list common filing deadlines, and discuss ways that entity management software can help prevent missed deadlines.

 

  1. Using a Registered Agent: Compliance, Security, and a Good Standing Status

In commercial real estate (CRE), compliance and data security are often considerations for both Sponsors and Investors. For example, when you form a company, you may want to avoid having your private information become public knowledge. A registered agent can step in as the acting agent for your company to help you maintain compliance and ensure a good standing status while protecting your business’ private information.

In this blog, we sat down with Nicole Ellery, Director of Real Estate Operations at EntityKeeper, to get her take on how you can protect your firm’s legal data and information with the help of a registered agent.

 

  1. Common Entity Management Challenges and Scaling Your Firm to Create Efficiencies

In today’s fast-paced business environment, effective legal entity management can be a challenging task, especially for smaller legal teams. It involves keeping track of important documentation, staying compliant with various regulations, and ensuring that all legal entities are structured correctly. Fortunately, there are several ways that small legal teams can effectively scale entity management.

In this blog, we’ll explore five strategies to optimize entity management processes to be more efficient, effective, and scalable.

 

  1. Why You Don’t Want to Delay on CTA Compliance

The Corporate Transparency Act (CTA) was enacted into law in  2021, and takes effect January 1, 2024. This mandate requires domestic and foreign legal entities to file a report with the Division of the Department of Treasury called the Financial Crimes Enforcement Network (FinCEN), which also regulates it. Organizations that do not comply with the new regulation could be at risk of costly penalties and fines, reputational damage, and business discontinuity.

This blog highlights reasons why proactive compliance is important and lays out steps to help you prepare for the new regulation.

 

  1. Can Your CRE Back-Office Handle the Market Shift?

Back-office efficiency is important for the success and growth of your CRE firm – especially in our current market. Optimizing the back office ensures streamlined operations, effective management of critical tasks and compliance deadlines, and improved productivity. For example, automation of routine administrative tasks, such as financial reporting and document management, allows employees to focus more time on strategic initiatives, client or tenant relationships, and revenue-generating activities.

In this blog, we offer three questions you can ask yourself as you evaluate whether your firm’s back-office can handle the shift.

Although we’ve selected only five top blogs for the year, all of our content is pretty great. Visit our resource center to view our full catalog of entity management content.