The U.S. Corporate Transparency Act: What Closely Held U.S. Businesses and Their Beneficial Owners and Advisors Need to Do Now to Address the Fast-Approaching Filing Deadline

Presented by Duane Morris – BABCPHL Club Level Member

In light of the impending due date for filing BOI reports for Pre-2024 Entities, on September 10 at 12 PM EST the Duane Morris CTA Strategy Team (a dedicated team of partners who actively monitor developments regarding the CTA) will be conducting a 1-hour webinar focused on the CTA’s application to Closely Held Businesses.  This webinar will focus on:

• When is a closely held business considered a “reporting company” under the CTA?

• What exemptions from CTA reporting are available to closely held businesses?

• Who are considered the “beneficial owners” of a closely held business for this purpose, including:

1. Trust ownership structures
2. Pass-thru entity structures
3. Non-U.S. family members
4. Family office involvement/control

• What personal identifying information must be collected from beneficial owners and provided to FinCEN?

• Preparing and filing the initial BOI Report and updates/amendments

Registration for the September 10 webinar is free to BABC members and clients and contacts of the firm.   To register, please click here.