Date: March 19, 2024
Time: 9 – 10 a.m. PT
On January 1, 2021, Congress enacted the National Defense Authorization Act for Fiscal Year 2021 (NDAA). Contained within the NDAA is the Anti-Money Laundering Act of 2020 (the AMLA), which introduces extensive reforms to U.S. anti-money laundering (AML) and counter-terrorism financing (CFT) laws. Within the AML, Congress passed the Corporate Transparency Act (CTA). The CTA requires certain corporations and limited liability companies (reporting companies) to disclose beneficial owner information to FinCEN and update ownership information within one year of any changes. This new regulatory reporting regime will impact over 25 million existing business entities and millions of new entities each year. Without an awareness of and compliance with these new reporting obligations, noncompliance can result in civil and criminal liability.
1000002098-119289
CPAS, Financial Advisors, Lawyers
Taxes
Overview
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