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The Corporate Transparency Act (CTA): It Affects YOU, It really does (seriously)

Presented by Lisa C. Thompson and Jonathan B. Wilson

On January 1, 2024, almost all small businesses will be required to submit identifying information of their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). There are few exemptions to these requirements and law firms are not one of them. The short and very, very general rule is that if you own a business that has less than 20 full-time employees, the CTA applies to you. Penalties are steep and exemptions are few so this CLE will discuss requirements for compliance as well as the obligations for lawyers forming businesses after January 1, 2024.  

(See below for any materials and Zoom link)
Shortly after the program, a recording will be on ACBC’s YouTube Channel, and ACBC’s website Resources page.

 

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Lisa C. Thompson is licensed to practice law in Arizona, California, Nevada, and Washington, D.C.  She graduated from the University of Arizona, College of Law with her Juris Doctorate in 1995 and in 1997 with her LL.M. (Master of Laws) in international trade law.  Lisa’s publications include:  Arizona Legal Forms - Volume 3 - Debtor-Creditor (Second and Third Editions); Arizona Legal Forms - Volumes 10 and 11 – LLCs and Partnerships (Third and Fourth Editions) and the Nevada Business Law Deskbook.  Her Arizona publications are updated annually.  Ms. Thompson focuses her practice on bankruptcy, business law, Corporate Transparency Act compliance, and student loan law in the State of Arizona.  In 2024, she will be reporting to FinCEN using a FinCEN identifier.













Jonathan B. Wilson is a co-founder of FinCEN Report Company, LLC. He is an attorney and corporate partner at Taylor English Duma LLP with 31 years of experience in corporate, M&A and securities matters. He is a former general counsel or chief legal officer of Web.com (NASDAQ: WWWW) and EasyLink Services International Corporation (NASDAQ: ESIC).  He is the author of The Corporate Transparency Act Compliance Guide (published July 2023 by Lexis Nexis) and the Lexis Practical Guidance Practice Note on the Corporate Transparency Act.