The Corporate Transparency Act Is Here

The New Corporate Transparency Act Is Here. FGKS Law Can Help.

Effective January 1, 2024, the Corporate Transparency Act (CTA) went into effect. This sweeping anti-financial crimes law requires nearly every newly formed and existing small business, including single member LLCs, to file Beneficial Ownership Information Reports with the federal government’s Financial Crimes Enforcement Network (FinCEN).

FGKS Law is committed to providing comprehensive assistance to its clients in understanding and meeting the requirements of the CTA. FGKS Law is prepared to assist new and existing entities with filing the required Beneficial Ownership Information Reports with FinCEN.

Here are the deadlines you need to be aware of:

• For all reporting entities formed during 2024, a Beneficial Ownership Report must be submitted to FinCEN within 90 days.
• For all reporting entities formed after 2024, a Beneficial Ownership Report must be submitted to FinCEN within 30 days.
• For reporting entities formed prior to January 1, 2024, a Beneficial Ownership Report must be submitted by January 1, 2025.

For assistance with understanding the CTA and with filing a Beneficial Ownership Information Report on behalf of your entity, contact your FGKS Law attorney. For more information about FGKS Law attorneys and practice areas, please visit www.fgks-law.com.