Corporate Transparency Act
Recent changes in the law under the Corporate Transparency Act now mandate that certain corporate entities must report information about the corporate entity and the entity’s beneficial owners to the United States Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”).
For corporate entities existing before January 1, 2024, the filing deadline to file their initial Beneficial Ownership Information Report is January 1, 2025.
MAHC CTA Legal Update March 6 2025
MAHC CTA Legal Update February 20 2025
January 8th, 2025 Corporate Transparency Act Press Release
Newly created corporate entities created or registered to do business on or after January 1, 2024 but on or before December 31, 2024 must file their initial Beneficial Ownership Information Report within 90 days after receiving actual or public notice that its creation or registration is effective.
New corporate entities created or registered on or after January 1, 2025, will have 30 calendar days to file their initial Beneficial Ownership Information reports with FinCEN.
Failure to timely and properly comply with the reporting requirements under the Corporate Transparency Act could result in civil and criminal penalties. Civil penalties include a fine of $500 per day and up to $10,000 per violation, among others. Criminal penalties may include a maximum of 2 years of imprisonment.
To assist with the filing, we have prepared a Beneficial Ownership Information Questionnaire Form for clients to complete and securely return to us via our secure portal. Once we have your completed Beneficial Ownership Information Questionnaire Form and supplemental documentation, we will file the report with FinCEN on your behalf early to mid-December. Please have your completed reports to us by December 13, 2024 to ensure timely filing.
Incomplete, inaccurate, and untimely submittals of Beneficial Ownership Information Questionnaire Forms will result in our office not being able to process your report to FinCEN and we will return the report to you. We are not responsible for incomplete, inaccurate, and untimely submittals.
Beneficial Ownership Information Questionnaire Forms submitted to us after 5 p.m. EST, Monday through Friday will be reviewed and processed the next business day.
Please contact us today to discuss your corporate entity’s Beneficial Ownership Information and commence the reporting process to ensure compliance in a timely manner. Once you contact us you will receive a password to gain access to the below form.
Click here to fill out the Beneficial Ownership Information Questionnaire Form
*DISCLAIMER: This form is for existing clients of our firm and for clients who have executed retainer agreements with us. Once submitted, you will be charged a fee for our services. The use and submission of this form by you and/or your corporate entity and/or communication with the firm or any individual member of the firm does not establish an attorney-client relationship. The attorney-client relationship is only created once you have engaged our firm and entered into an agreement with us.