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X-WR-CALNAME:NIACC Pappajohn Entrepreneurial Center
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X-WR-CALDESC:Events for NIACC Pappajohn Entrepreneurial Center
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DTSTART;TZID=UTC:20241023T130000
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UID:5979-1729688400-1729693800@www.pappajohncenter.com
SUMMARY:The Corporate Transparency Act Compliance Seminar
DESCRIPTION:Protect your business from liability under the CTA\nThe Corporate Transparency Act has important implications for both small and large businesses. Although there are numerous exemptions from the reporting requirements\, many small businesses will not qualify for an exemption and will need to report information on their beneficial owners. Is your business prepared to take on Corporate Transparency Act compliance? \nWe strongly encourage all small business owners to learn more about the Corporate Transparency Act and understand how it can affect your business. Please join us for this free seminar with BrownWinick Law Firm and protect yourself from potential liability. \nEffective January 1\, 2024\, most new and existing corporate entities in the United States will be required to file reports on their beneficial owners with the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA). Beneficial owners are generally defined as individuals who own or control an entity\, either directly or indirectly\, which includes individuals who own 25% or more of the company\, or any individuals who exercise substantial control over the entity. The reporting rules are designed to prevent financial crimes\, including money laundering\, corruption\, and tax evasion. \n  \nWho needs to know about the Corporate Transparency Act?\nThe CTA requires “reporting companies” to file a report with FinCEN. The CTA defines “reporting company” as a corporation\, limited liability company (LLC)\, or other similar entity that is created by the filing of a document with a secretary of state or any similar office under the law of a State or Indian tribe. \n  \nWhy do you need to know about the Corporate Transparency Act?\nMost businesses will be required under law to file a beneficial ownership information (BOI) report. It is the obligation of each reporting company to file reports with FinCEN. Individual beneficial owners\, senior officers\, and company applicants may face civil and/or criminal liability for willful failure to provide required information or for providing false information. Penalties can be up to $10\,000 in fines\, and up to two years incarceration for willful negligence in complying. \n  \nThis free webinar will cover:\n\nWho is required to report?\nWhat are the exemptions from reporting?\nWhat information is required to be reported?\nWho are beneficial owners?\nWhat is the deadline for filing the initial beneficial ownership report?\nHow is beneficial ownership information reported?\nIs the information reported to FinCEN available to the public?\nWhat are the penalties for failing to report?\nOnce an initial report is filed is it required to be updated?\n\n\nRegister today to learn the tools and gain the confidence to handle your business’s CTA compliance.\nThis is an online webinar and will be held via Zoom. Register to receive the webinar links and details. Please contact the Pappajohn Center with any questions about this important upcoming webinar. \nRegister Now\n
URL:https://www.pappajohncenter.com/event/corporate-transparency-act-compliance-fall2024/
CATEGORIES:Webinar
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