If you missed the NJCPA’ Corporate Transparency Act by Ed Zollars, you can watch a replay. The content is accurate as of the original date presented, 2/1/24. There is no CPE for this on-demand replay.
DESIGNED FOR
CPAs and tax professionals in public practice
BENEFITS
Understand beneficial ownership information reporting requirements and understand how to advise or assist clients.
HIGHLIGHTS
Examine the intricacies of registering with the Financial Crimes Enforcement Network (FinCEN), identifying beneficial owners, updating information and understanding the implications of noncompliance. Tackle the critical issues surrounding the unauthorized practice of law for CPAs and managing client expectations in this evolving landscape. Topics will include:
- Entities subject to the CTA’s BOI reporting rules
- Initial reporting deadlines and the impact of entity formation dates
- 23 exemption categories, with a focus on large operating and inactive entities
- Defining beneficial owners – categories of substantial control and 25% ownership
- Reporting requirements for company applicants in entities formed after 2023
- Mandatory disclosure information for entities, company applicants and beneficial owners
- 30-day update rule for changes in reported information
- Penalties for noncompliance – what entities and individuals need to know
- Unauthorized practice of law – navigating boundaries for clients who need help
COURSE LEVEL
Basic