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Corporate Transparency Act Overview

Late last year, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) released a notice of proposed rulemaking for companies subject to the Corporate Transparency Act (CTA).

It is imperative that businesses understand the CTA’s requirements, determine whether they are required to report any information and, if so, begin preparations to file these reports. KJK has compiled a high-level assessment detailing the key takeaways of the CTA, including:

  • Reporting Requirements
  • Filing Deadlines
  • Exemptions
  • Penalties and Criminal Exposure

 

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