New Filing Requirements under the Corporate Transparency Act Explained!

  EVENT DATE

December 05, 2023

  PRESENTER(s)

Nick Preusch

  1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 120 Minutes


* Not able to attend the live session? We can arrange an on-demand session for You. Please call 1-‪814-892-0304


DESCRIPTION



The Corporate Transparency Act is an act designed to help the US combat money laundering. Since it is designed to combat money laundering, most of the businesses getting caught up in new filing requirements will be small businesses. In particular for us, the beneficial ownership reporting will impact almost every one of our business clients. As our clients best advisor, we need to know what the reporting requirements are, how they are done and if we are able to do them.

This act is expected to build a pathway for FinCEN (Financial Crimes Enforcement Network) to develop a standardized reporting of companies being formed in the USA and their disclosure of beneficial ownership information. 

Recently, regulations were passed for reporting requirements for almost all businesses to file with FinCEN relating to the beneficial owners of their business. The rule describes who must file a BOI report, what information must be reported, and when a report is due. The effective date for the final rule is January 1, 2024. The details for how this reporting obligation will be implemented were left for FinCEN to provide through rulemaking. When you finish this webinar, you will be able to properly advise your client on these new rules that take effect on 1/1/24.

This Online Tax Webinar  covers the following major key topics: 

  • Corporate Transparency Act
  • Who must file under these new beneficial rules
  • How the filings will be done and the practice of law issues involved with the filings
  • Exemptions
  • What is Reported?
  • What’s Next?

Learning Objectives:

  • To analyze regulations for reporting requirements of the business.
  • To discuss how the business will file its reporting requirements with FinCEN relating to the beneficial owners.
  • To identify who must file a report and what information must be provided.

Credits and Other information:

  • Recommended CPE credit – 2.0 Tax Hours
  • Recommended field of study – Tax
  • Session Prerequisites and preparation: None
  • Session learning level: Advanced
  • Location: Virtual/Online
  • Delivery method: Group Internet Based/Self-Study
  • NASBA Sponsor: 138804
  • IRS Course ID: DFFSC
  • Attendance Requirement:  Yes
  • Session Duration: 2 Hours
  • Case Studies and Live Q&A session with speaker
  • PowerPoint presentation for reference

Who Will Benefit:

  • CPA
  • Enrolled Agents (EAs)
  • Tax Professionals
  • Attorneys
  • Other Tax Preparers
  • Finance professionals
  • Financial planners



Pioneer Educator is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.




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