Complying With the Corporate Transparency Act: A Guide for Client Protection

Overview

The Corporate Transparency Act (CTA) is a new federal law designed to combat money laundering, terrorist financing, and other illicit activities by increasing transparency in corporate ownership. As a CPA, EA, attorney, or financial professional, it is crucial to understand the requirements of this law and how it can impact your clients. This course will provide the attendee with both knowledge of the legislation and knowledge of the exceptions to the legislation.

Highlights

Identify the applicability of the CTA to an advisor’s clients. Learn the fundamentals of the CTA, including its purpose, scope, and compliance requirements. Explore the potential risks and benefits associated with the law and how it can affect your clients’ interests. Understand the CTA’s impact on corporate structures, reporting requirements and enforcement mechanisms. Learn how to navigate the regulatory landscape to ensure compliance. Identify which entities are now required to disclose owner information. Discuss the reporting requirements of the CTA. Learn what entities are subject to the exceptions of the CTA. Understand the penalties for noncompliance of the CTA

Prerequisites

None

Designed For

CPAs, EAs, Attorneys, Financial Advisors

Objectives

At the end of this course, you will be able to: Discuss the skills and knowledge necessary to advise clients on how to comply with the CTA and protect their interests. Identify and mitigate potential risks associated with the law List ways to leverage the CTA to create a competitive advantage for your clients.