Foster Swift Educational Events

How Will the CTA Affect Your Business?

Sticky NotesThe Corporate Transparency Act (“CTA”) was enacted as part of the National Defense Authorization Act for Fiscal Year 2021 and became effective on January 1, 2024. It is intended to combat money laundering, terrorist financing, corruption, tax fraud, and other illicit activity. 

This Act will impact many small and medium sized businesses as many for-profit companies such as corporations, and limited liability companies will be required to report their business information to a national database.

Reporting companies are responsible for the accuracy of this information and can face severe criminal and civil penalties for reporting violations (false reporting or failing to report) including heavy fines, imprisonment or both.

So what happens now? Join us for our first 2nd Wednesday session of 2024:

This session will feature moderator Rob Hamor along with fellow attorney, Nick Stock, as they analyze and explore central aspects about the CTA and how it may affect you including:

  • Who the CTA applies to, which businesses must report?
  • Who is exempt?
  • What information must be filed?
  • When does the information need to be reported?
  • What are the consequences for noncompliance?
  • How our team can help you?
Jump to Page

Foster Swift Collins & Smith PC Cookie Preference Center

Your Privacy

When you visit our website, we use cookies on your browser to collect information. The information collected might relate to you, your preferences, or your device, and is mostly used to make the site work as you expect it to and to provide a more personalized web experience. For more information about how we use Cookies, please see our Privacy Policy.

Strictly Necessary Cookies

Always Active

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.

Functional Cookies

Always Active

Some functions of the site require remembering user choices, for example your cookie preference, or keyword search highlighting. These do not store any personal information.

Form Submissions

Always Active

When submitting your data, for example on a contact form or event registration, a cookie might be used to monitor the state of your submission across pages.

Performance Cookies

Performance cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.

Powered by Firmseek