The Corporate Transparency Act, a groundbreaking federal law, takes effect on January 1, 2024. In the most recent installment of our series, Beneficial Ownership Reporting Under the New Corporate Transparency Act Part 5: Countdown to January 1, 2024, we discussed the reporting rules and regulations, exemptions, penalties for non-compliance, special considerations and preparation for the effective date, with a focus on updates since we presented Part 4 of the series. We included the details of FinCEN’s proposed amendment to its reporting rules to extend the filing deadline in certain circumstances and the latest sample form fields for the beneficial ownership reports and FinCEN identifier applications. We also took a deeper dive into the subsidiary exemption and other exemptions and further discussed company applicants and other parts of the Act that continue to cause confusion and concern.
Beneficial Ownership Reporting Under the New Corporate Transparency Act Part 5: Countdown to January 1, 2024
This webinar, presented by our in-house specialist Pia Angelikis, Esq., Vice President of Government Relations and Legal Research, covered:
- The reporting requirements and key terms
- FinCEN’s proposed amendment and new sample form fields for the Beneficial Ownership Information report and identifier application
- The exemptions: With a deeper dive into exemptions #18, #21 and #22
- Penalties for non-compliance
- FinCEN’s rule-making status and special considerations
- The CTA timeline revisited and preparation for implementation
There is no fee to attend the webinar, but advance registration is required.
CLE and MCLE Information:
California: This course has been approved by the California MCLE Board for 1 MCLE credit hour. (CA attorneys, please provide Bar number during registration.) Provider #10934
Florida: This course has been approved by the Florida Bar for 1 CLE credit hour. Course #2311278N
Illinois: This course has been approved by the Illinois MCLE Board for 1 MCLE credit hour. (IL attorneys must provide their ARDC number for provider reporting purposes.)
New York: Cogency Global has been certified by the New York State Continuing Legal Education Board as an Accredited Provider of continuing legal education. This course has been approved in accordance with the Board for a maximum of 1 credit hour, all of which can be applied toward the Professional Practice requirement.
Texas: This course has been approved for MCLE credit by the State Bar of Texas Committee on MCLE in the amount of 1 credit hour, of which 0 credit hours will apply to legal ethics/professional responsibility credit. (TX attorneys must provide their Bar number for provider reporting purposes). Course #174215651
National Federation of Paralegal Associations (NFPA): This course has been approved by NFPA for 1 CLE credit hour.
National Association of Legal Assistants (NALA): This course has been approved by NALA for 1 CLE credit hour.
Note: To receive full credit, you must be present for the entire presentation and answer all poll questions throughout the webinar.
Please note:
- This program is suitable for newly admitted and experienced attorneys.
- M/CLE is general credit and does not include any of the following: Legal ethics, recognition and elimination of bias, competence, mental health/substance abuse, diversity/inclusion, civility and professionalism. Official NY State CLE certificates will be emailed after the event.
- Cogency Global does not pursue CLE credit for Paralegals (unless noted above), CPAs or CPEs. We encourage you to submit this certificate of attendance to your professional organization to obtain credit.
- For any states not listed as approved or pending, we strongly encourage attendees to self-apply/self-report to the respective states.
You’re welcome to share this invitation with your colleagues and any other legal and financial professionals who may benefit from attending this webinar. If you have any questions, please email webinars@cogencyglobal.com. We look forward to hearing from you.
