The Corporate Transparency Act (CTA) – is a law that mandates that a business entity must disclose who the beneficial owners [Beneficial Ownership Information (BOI)] of the entity are. Any business entity formed by application is subject to the CTA these entities include Corporations (both C and S), Partnerships (both general and limited), Professional Corporations, and Limited Liability Entities (in all Forms). Why is this law here? Well there are those in congress that are concerned all business entities are not necessarily transparent or are formed by individuals trying to hide something or committing nefarious acts, associated with terrorist activities, drugs and/or the illegal funneling of monies. The CTA applies to all entities formed within the United States and foreign entities that have registered to business within the United States. The purpose of the CTA Legislation is to assist the Financial Crimes Enforcement Network (FinCEN) in identifying entities that may be involved in money laundering, Tax Evasion, organized Crime, and/or other illegal activities.

Learning Objectives:
Identify when the Law comes into effect.
Identify the entities that will apply to this law.
Identify the requirements necessary to comply with this act.
Identify the companies that are exempt.

To complete this course participants need to: Answer polling questions to meet NASBA / IRS / State Board of Accountancies requirements for attendance verification.

Upon course completion A course evaluation form is provided for your feedback.

Participants have 1 year from the date of purchase/enrollment to complete this course

CPE Prime 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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