Webinar

Corporate Transparency Act Webinar 2024

October 10, 2024
Event details
October 10, 2024
2:00 – 3:00 pm Eastern Daylight Time

Event summary

The beneficial ownership information (BOI) reporting rule requirements under the US Corporate Transparency Act started taking effect at the beginning of this year. The January 1, 2025, compliance deadline for companies formed or registered in the US before 2024 is now fast approaching. The BOI rule requires any such covered “reporting company” to provide information to the Financial Crimes Enforcement Network (FinCEN) about the company itself, as well as the individuals who are beneficial owners of the company. We are already seeing the huge impact of the rule on newly formed companies in 2024, but other companies need to determine if the rule applies, and, if so, must make all required filings by the end of this year. During this virtual event, Cooley practitioners will address the key elements of the BOI rule and what we have learned about it so far, the impact on various types of organizations, and frequently asked questions about the reporting requirements.

Topics of discussion will include:

  • What a “reporting company” is and which key exemptions may exclude a company (and its subsidiaries) from reporting obligations under the BOI rule.
  • How the BOI rule applies to common emerging company and venture capital/private equity structures.
  • The information that a reporting company must provide to FinCEN about the company itself and each individual who is a beneficial owner.
  • Requirements to keep information up to date.
  • Potential penalties for noncompliance.

Featured speakers

Details and registration >

 

For more information, please email Rebecca Lanz.

This and any related article, webinar or presentation provide general information about the CTA and its reporting requirements. These communications do not constitute legal advice, and we encourage you to consult with an attorney for advice tailored to your specific situation.

Please note that Cooley provides advice related to CTA compliance only to current clients of the firm – and only when we are expressly asked and agree to do so in writing. Our services do not include filing BOI reports with FinCEN or monitoring business activity to determine whether updated or corrected reports may be required.

These communications do not create an attorney-client relationship between Cooley and you or your company or create any duties to provide advice with respect to the CTA.

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