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 Bolduc is a dedicated legal professional with a passion for community empowerment and economic equity. Presently serving as a Staff Attorney at Northeast Legal Aid (NLA) in their Community Development and Entrepreneurship Unit, as well as the Low-Income Taxpayer Unit, Velinda provides invaluable legal services to individuals and organizations in need, all at no cost. Since joining NLA in September 2023, Velinda has been instrumental in offering legal guidance and support to those seeking to navigate complex legal landscapes.
Velinda holds a Juris Doctorate (J.D.) from Suffolk Law University, graduating in May 2023. Additionally, Velinda has obtained a Master of Business Administration (MBA) from Sawyer Business School, complementing their legal expertise with a comprehensive understanding of business principles.
During Velinda's tenure as a law student, they served as an SJC Rule 3:03 student attorney in the Transactional Legal Clinic at Suffolk Law. Under the supervision of a licensed attorney, Velinda represented various organizations and businesses in the Boston area, focusing on fostering community empowerment and promoting economic equity. This experience honed Velinda's skills in transactional law and further fueled their commitment to social justice.
Velinda is bilingual in English and Spanish, allowing them to effectively communicate and serve a diverse range of clients. With a dedication to justice and equity, Velinda is committed to ensuring that all individuals and organizations have access to the legal resources they need to thrive.

Presenter

Jenny M. Eldred, Esq.

Jenny M. Eldred joined Northeast Legal Aid, Inc (NLA) as a Staff Attorney in September 2023, where she provides free transactional legal assistance and compliance advising to local entrepreneurs while working in the Community Development and Entrepreneurship Unit. She also provides free legal assistance to individual taxpayers with income tax controversies in NLA’s Low-Income Taxpayer Unit. Jenny is licensed to practice law in Massachusetts and in U.S. Tax Court.
Jenny is passionate about increasing the accessibility of quality business transactional and compliance advice to help new and existing local small businesses thrive. As a part of her work at NLA, she also teaches free legal education trainings for entrepreneurs. Jenny works out of NLA’s downtown Lynn location.
Jenny holds a J.D. from Boston University School of Law with a concentration in Risk Management & Compliance. While in law school, Jenny was an SJC Rule 3:03 student attorney in the Civil Litigation Clinic and the Compliance Policy Clinic. She also holds a B.S. in Economics from Central Michigan University.