As a business owner, you probably have heard of the new reporting requirement mandated by the Corporate Transparency Act (CTA). The CTA creates a new beneficial ownership information reporting requirement as part of the U.S. government’s efforts to discourage using shell companies and other opaque corporate structures for illicit activities, such as financing terrorism, money laundering, and other financial crimes.

 

Because advising clients regarding compliance with the Act may be considered the unauthorized practice of law, we are unable to assist with this filing. Therefore, we recommend you comply with this filing requirement by either

1. Consulting your legal counsel for assistance;
2. Reporting directly to the Financial Crimes Enforcement Network (FinCEN) and complete the necessary information online through their website (here); or
3. Contacting FileForms * to assist with the filing (FileForms.com).

*FileForms is a company who represents they can assist with the completion of this process. Whalen CPAs does not validate the offerings of this company.

• Category: Client Alerts