Surgent's Guide to the Corporate Transparency Act for Accounting and Finance Professionals

Available Anytime

Location: Online

2Credits

Technical Business

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~~$109.00 Regular Price~~

Nonmembers

$144.00 Regular Price

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Product Code: SU24-CTA2-SSWC

Level: Basic

Vendor: Surgent

Field of Study: Finance

Overview:

Effective January 1, 2024, an estimated 32.6 million entities will be required to report information about their beneficial owners to FinCEN as part of the Corporate Transparency Act (CTA). In an effort to combat money laundering and other illegal activities, the law provides harsh penalties for the failure to report the required information. This reporting specifically targets small businesses and holding entities, creating opportunities for accountants, tax practitioners, and other business advisors to expand their service offerings. The reports require the listing of all "beneficial owners," and they are imprecisely defined, possibly requiring an exercise of judgement. Therefore, proper education of professionals and business owners is paramount for accurate reporting. The course includes an overview of the CTA and a detailed discussion of what information needs to be reported to FinCEN.

Objectives:

Understand the goals of the beneficial ownership reporting
Identify what entities need to file the reports and what information needs to be provided

Major Topics:

Updates on legislative challenges
The Corporate Transparency Act and its goals
Which entities need to file reports and which entities are exempt?
Deep dive into the definitions of beneficial owner and substantial control
Information that needs to be reported
Logistics on how and when to file the forms

Designed For:

Accounting and finance professionals who service clients affected by the new CTA, and accounting and finance professionals whose own entity may be affected as well

Prerequisite:

None

Additional Info:

You will receive an email from [email protected] with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.