Alert! New Federal Law Impacting Your Legal Entity - Corporate Transparency Act

The Corporate Transparency Act is requiring all reporting companies (LLC, Corporation, Partnerships and more) to file a FinCEN report with the Financial Criminal Enforcement Network (FinCEN) of the U.S. Treasury, disclosing all information about the beneficial owner(s) of the legal entity and those that created them. Failure to report in a timely manner can lead to a fine of $500/day. How will this affect you and your payroll clients?

Beginning January 1st, 2024, the Corporate Transparency Act will begin enforcing reporting companies to file.

In our recent webinar, Marty Stowe of Värkrz sat down with top asset protection attorney Harry Barth of BarthCalderon, LLP for an inside look at this new law and its impacts.

Harry revealed the types of legal entities affected and how your living revocable trust can also be impacted by this new law, sharing how the different types of legal entities guard against unforeseen liabilities.

Marty provided insight to Payroll Companies, specifically, about how to address CTA with and for their clients.