Barbara Grandjean, Steve Levine, Chris Sundberg, and Yuefan Wang will present, "Corporate Transparency Act Update 2024: The Government in Your Business," at the Association of Corporate Counsel (ACC) Colorado Legal Recharge on Thursday, April 11, 2024.
The Corporate Transparency Act (CTA) was enacted by Congress as part of the National Defense Authorization Act to combat money-laundering conducted through created shell companies and became effective January 1, 2024. The CTA requires small and otherwise unregulated entities formed in the U.S. of its individual “beneficial owners” to the Financial Crimes Enforcement Network.
On March 1, a federal court in Alabama found that the CTA was unconstitutional, and on March 4, FinCEN provided a response through an official notice.
This presentation will:
- Discuss the background and reporting requirements under the CTA
- Provide a timely update on the recent court decision, FinCEN’s response, and what this may mean for your business going forward
- Focus on the areas in which the panelists see more and more of the Government in your business
For more information, visit the event website.