Understanding the Corporate Transparency Act (CTA) and FinCEN Reporting (WEBINAR)

Many businesses do not know that they are now subject to the CTA reporting obligations. Is your company one of them? The CTA requires reporting companies to disclose information about their “beneficial owners.” A “reporting company” under the CTA is a corporation, limited liability company (LLC), or any entity created or registered to do business in the U.S. by the filing of a document with a secretary of state or any similar office under the laws of a state or Tribe. Does this apply to your company?

Course Description:

The Corporate Transparency Act (CTA) imposes a new requirement for many entities to report control and ownership information to The U.S. Department of Treasury’s Federal Crimes Enforcement Network (FinCEN). The CTA went effect January 1, 2024, as a part of a federal effort to combat money laundering and other illegal activities through the use shell companies. Estimated to affect 32 million entities, many of which are small businesses, the CTA allows for significant civil and criminal penalties for non-compliance. This webinar will go over the key information you must know about CTA, including how to determine whether your business is subject to the CTA reporting obligations and what, how, and when you need to report to FinCEN.

Information Presented:

• • Overview of the Corporate Transparency Act
  • Entities Subject to Reporting; Exempt Entities
  • Beneficial Ownership and Substantial Control Defined
  • Reporting Deadlines and Procedures
  • Civil and Criminal Penalties for Non-Compliance

Who Should Attend:

• • Small business owners, LLC-members, partners, shareholders of reporting companies
  • Corporate executives, corporate board members
  • Anyone involved in business formation, management, or compliance

Join us for this essential webinar to gain clarity on the CTA and FinCEN reporting requirements to ensure your business stays compliant with evolving regulatory requirements. Don’t miss this opportunity to equip yourself with the knowledge and tools necessary to navigate the CTA’s compliance requirements.

Registration is required to attend this webinar. The Zoom link will be emailed to registrants prior to the webinar.

This informative webinar is offered at no cost and is being sponsored in partnership with Northeast Legal Aid, the North Shore Alliance for Economic Development and the Massachusetts Office of Business Development (MOBD). Maria Di Stefano, Northeast Regional Director, will provide an update on MOBD resources.

Presenter

Velinda Peralta Bolduc, Esq.

Velinda Peralta Bolduc is a dedicated legal professional with a passion for community empowerment and economic equity. Since joining Northeast Legal Aid in September 2023, Velinda has served as a Staff Attorney in the NLA Community Development and Entrepreneurship unit and in the NLA Low Income Taxpayer Clinic. In her work with NLA, Velinda serves entrepreneurs and organizations without the means to hire private counsel, increasing access to transactional legal services in Northeastern Massachusetts.
Velinda holds a J.D. from Suffolk University Law School and an MBA from Sawyer Business School. While at Suffolk Law, Velinda was a student attorney in Suffolk’s Transactional Legal Clinic. Under the supervision of a licensed attorney, Velinda represented local organizations and small businesses in transactional legal matters and developed her passion for community empowerment and economic equity.
Velinda is bilingual in English and Spanish.

Presenter

Jenny M. Eldred, Esq.

Jenny Eldred joined Northeast Legal Aid as a Staff Attorney in September 2023, where she provides free transactional legal assistance and compliance advising to local entrepreneurs through her role in the Community Development and Entrepreneurship unit. She is also works part-time in the NLA Low-Income Taxpayer Clinic, where she and the LITC team help individuals with state and federal income tax issues and teach free taxpayer education workshops in the local community.
In her work, Jenny is passionate about increasing the accessibility of transactional legal services and compliance advice for local small businesses. She also enjoys teaching practical legal workshops to empower entrepreneurs with the tools they need to prevent avoidable, costly mistakes.
Jenny holds a J.D. from Boston University with a concentration in Risk Management & Compliance. While in law school, Jenny was active in both the BU Civil Litigation Clinic with Greater Boston Legal Services and the BU Compliance Policy Clinic. She also holds a B.S. in Economics.