Grossman St. Amour Certified Public Accountants PLLC’s Post

Beginning on January 1, 2024 the US Corporate Transparency Act (CTA), part of the Anti-Money Laundering Act of 2020, requires “reporting companies” to file with the Financial Crimes Enforcement Network of the US Department of the Treasury (FinCEN) reports containing personal information about the company’s beneficial owners. The reports are intended to help prevent and combat money laundering and other illicit activity in the United States by providing information to law enforcement and national security agencies about the owners of such entities. This summary is presented for informational purposes only and should not be construed as legal advice. https://lnkd.in/g-6prY-E

Starting January 1, 2024, United States entities and foreign entities registered to do business in the United States will be subject to the beneficial ownership reporting requirements of the Corporate Transparency Act, unless they are exempt. Learn more about the companies that are subject to these new reporting requirements, the available exemptions, the information that must be gathered and reported, the filing process, and the civil and criminal penalties for non-compliance. #CorporateTransparencyAct #FinCEN #AntiMoneyLaundering

Beginning January 1, 2024, United States entities and foreign entities registered to do business in the United States will be subject to the beneficial ownership reporting requirements of the Corporate Transparency Act, unless they are exempt. Learn more about the companies that are subject to these new reporting requirements, the available exemptions, the information that must be gathered and reported, the filing process, and the civil and criminal penalties for non-compliance. #CorporateTransparencyAct #FinCEN #AntiMoneyLaundering

Starting January 1, 2024, United States entities and foreign entities registered to do business in the United States will be subject to the beneficial ownership reporting requirements of the Corporate Transparency Act, unless they are exempt. Learn more about the companies that are subject to these new reporting requirements, the available exemptions, the information that must be gathered and reported, the filing process, and the civil and criminal penalties for non-compliance. #CorporateTransparencyAct #FinCEN #AntiMoneyLaundering”

Starting January 1, 2024, United States entities and foreign entities registered to do business in the United States will be subject to the beneficial ownership reporting requirements of the Corporate Transparency Act, unless they are exempt. Learn more about the companies that are subject to these new reporting requirements, the available exemptions, the information that must be gathered and reported, the filing process, and the civil and criminal penalties for non-compliance. #CorporateTransparencyAct #FinCEN #AntiMoneyLaundering”

Starting January 1, 2024, United States entities and foreign entities registered to do business in the United States will be subject to the beneficial ownership reporting requirements of the Corporate Transparency Act, unless they are exempt. Learn more about the companies that are subject to these new reporting requirements, the available exemptions, the information that must be gathered and reported, the filing process, and the civil and criminal penalties for non-compliance. #CorporateTransparencyAct #FinCEN #AntiMoneyLaundering

🚨Attention Small Business Owners! 🚨 The new Corporate Transparency Act will require you to report information regarding your company’s “beneficial owners” to the Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) through a not-yet-operational website known as the Beneficial Ownership Secure System (“BOSS”). Entities formed prior to January 1, 2024, will have until January 1, 2025, to report. However, all entities formed on or after January 1, 2024, must submit their reports within 30 days after the entity is formed. $10,000 fine and imprisonment are potential penalties for noncompliance! #smallbusinessowner #llc #smallbiz

Starting January 1, 2024, United States entities and foreign entities registered to do business in the United States will be subject to the beneficial ownership reporting requirements of the Corporate Transparency Act, unless they are exempt. Learn more about the companies that are subject to these new reporting requirements, the available exemptions, the information that must be gathered and reported, the filing process, and the civil and criminal penalties for non-compliance. #CorporateTransparencyAct #FinCEN #AntiMoneyLaundering

The federal Corporate Transparency Act (the “CTA”) which becomes effective January 1, 2024, requires all companies which do not qualify for an exemption to file specified ownership information with the US Treasury Department’s Financial Crimes Enforcement Network. Is your business ready for the mandatory disclosures next year? There are severe penalties for noncompliance. Click below to visit our website and learn more. #CTA #corporatetransparencyact

New federal law affects many business entities that operate as either corporations, limited liability companies, limited partnerships, or limited liability partnerships. In order to combat money laundering, fraud, financing of terrorist activities, and other illegal activity, Congress passed a law known as the Corporate Transparency Act (the “CTA”), which became effective as of January 1, 2024. After that date, entities that are not exempt are required to comply with the provisions of the CTA by filing a Beneficial Ownership Interest Report (“BOI Report”) with the Financial Crimes Enforcement Network (“FinCEN”) a branch of the United States Treasury. The BOI Report requires information (discussed in further detail below) about those who own and control privately owned organizations, so as to enable law enforcement agencies to access that information. #corporatetransparencyact #businesslaw #corporations #llc #llp #limitedpartnership Read more: https://lnkd.in/gWjjjszm