Corporate Transparency Act: What To Know About The New Federal Law Impacting Property Owners
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Corporate Transparency Act: What To Know About The New Federal Law Impacting Property Owners
The Corporate Transparency Act (CTA) is requiring owners of limited liability companies, corporations and other legal entities to file a FinCEN report with the Financial Criminal Enforcement Network (FinCEN) of the U.S. Treasury, disclosing all information about the beneficial owner(s) of the reporting companies and those that created them. Failure to report in a timely fashion can be fined $500/day.
Join us as top asset protection attorney Harry Barth breaks down exactly what you need to know, including:
- Due dates for filing
- Who is exempt
- How your living trust could be impacted
- How to determine beneficial ownership of your legal entity
- Who qualifies as a beneficial owner of your legal entity
- How an irrevocable trust can be excluded from the CTA filing requirements