Passed by Congress on January 1, 2021, the Corporate Transparency Act (CTA) is set to dramatically change reporting requirements for many small and medium-sized businesses and organizations. For the first time ever, the legislation will mandate that qualifying businesses self-report information about the people who created, own, lead or have influence over them, as well as information about the business itself. All the information will be added to a federally managed database with criminal penalties for violations.
So what effect will this have on your organization in 2022 and beyond?
In an effort to further educate businesses and organizations on the obligations and implications regarding the CTA, our team has put together this page that will be periodically updated to include additional CTA resources such as articles and videos to assist entities in being better prepared for the days ahead. Last updated: February 22, 2023
Foster Swift Articles (Most Current First)
- Corporate Transparency Act: What You Need to Know Before 2024 2/22/23
- Corporate Transparency Act: Big Brother is Now Watching Small Businesses 12/12/22
- Implications of the Forthcoming Corporate Transparency Act 5/10/22
Events
- Policy & Regulatory Education Series: Corporate Transparency Act, Lansing Regional Chamber 2/7/23
- A Panel Discussion of the Corporate Transparency Act's Impact on Small Businesses 10/13/22
Videos
- Policy & Regulatory Education Series: Corporate Transparency Act, Lansing Regional Chamber 2/7/23
- MBN Series: Discussions on the Corporate Transparency Act with Todd McCracken and Rob Hamor 10/31/22
- Legal Strategies for Michigan Farmers: The Corporate Transparency and You 10/19/22
- Latest on the Corporate Transparency Act - Foster Swift Fall 2022 Labor & Employment Law Update 10/12/22
- What Is The Corporate Transparency Act? - Michigan Business Network 7/29/22
- Concerns and Obligations for Businesses under the Corporate Transparency Act - YouTube 5/11/22
Have Legal Questions?
If your business or organization is facing potential legal issues caused by the requirements of the Corporate Transparency Act, we encourage you to contact one of Foster Swift's designated Corporate Transparency Act Coordinators:
Southeast Michigan
Robert Hamor | 248.785.4737 | rhamor@fosterswift.com
Mid-Michigan
Nicholas Oertel | 517.371.8139 | noertel@fosterswift.com
West Michigan
Todd Hoppe | 616.726.2246 | thoppe@fosterswift.com