NTA2407. The Corporate Transparency Act: (almost) One Year In

The Corporate Transparency Act (CTA) went into effect January 1, 2024. Since that time, millions of entities have made their initial filings, though millions more filings were expected given the January 1, 2025, initial filing deadline. This session will briefly review what is required under the CTA, will explore the impact of Financial Crimes Enforcement Network’s (FinCEN) newly issued FAQ and recent case law, and will walk through some of the more complicated ownership structures that FinCEN has yet to address.

Learning Objectives:

• Identify the filing requirements of the Corporate Transparency Act and their deadlines
• Analyze the impact of recent court filings and FinCEN's FAQ
• Apply the Corporate Transparency Act to fact patterns involving trusts and other ownership structures