"Corporate Transparency Act," The Estate and Business Planning Council of Hartford

On January 23, Day Pitney Corporate attorneys Lane Watson, Brian Fischer and Patricia Jimenez Durelli presented at the Estate and Business Planning Council of Hartford (EBPC Hartford) webinar titled, "Corporate Transparency Act." The Corporate Transparency Act (CTA) legislation and supporting regulations went into effect on January 1, 2024 and impacts millions of businesses, both domestic and foreign. The CTA introduced beneficial ownership reporting requirements for new and existing business. The reporting requirements apply to corporations, limited liability companies and other entities that fall within the CTA's definition of "reporting company." This presentation covered the CTA's key topics including reporting companies, company applicants, beneficial owners, exemptions, filings deadlines, penalties and related issues.