The Corporate Transparency Act (CTA): New Fines & Rules For Business Owners To Follow
- Author
- Nick Rosenbauer
- Published
- Thu 22 Feb 2024
- Episode Link
- https://completeestateplanning.podbean.com/e/the-corporate-transparency-act-cta-new-fines-rules-for-business-owners-to-follow/
The Corporate Transparency Act (which was enacted in January of 2021) has taken effect as of January 2024. Under the new law, small businesses have new disclosure and reporting requirements with the Financial Crimes Enforcement Network. This law is retroactive and includes businesses that were already in existence BEFORE the CTA went into effect. Along with the new requirements, there are significant fines/penalties for being in violation of the law. Listen in as we talk about what you need to know!
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