The Corporate Transparency Act (CTA) was enacted in 2021 to help law enforcement detect, prevent, and punish money laundering, tax fraud, and other misconduct associated with U.S. corporations and companies. The CTA creates reporting obligations for certain corporations, limited liability companies, limited partnerships, and other entities created by the filing of a registration document with a secretary of state or similar office. The CTA requires that these entities report various information on their beneficial owners and company applicants to the Financial Crimes Enforcement Network (FinCEN). The reporting obligations are set to begin January 1, 2024. Clients are encouraged to visit FinCEN’s website (fincen.gov) for additional information regarding the CTA.
For over forty years, FizerBeck has excelled in helping individuals and families preserve, manage and protect their personal and business assets. Since our founding in 1979, our practice has focused on estate planning, administration and probate law, business organizations and transactions, real estate transactions, tax exempt organizations and charitable planning.