Guide to the Corporate Transparency Act for Accounting and Finance Professionals

OL1138  |  On Demand Course  |  Update  |  Self-Study

Description

Effective January 1, 2024, an estimated 32.6 million entities will be required to report information about their beneficial owners to FinCEN as part of the Corporate Transparency Act (CTA). In an effort to combat money laundering and other illegal activities, the law provides harsh penalties for the failure to report the required information. This reporting specifically targets small businesses and holding entities, creating opportunities for accountants, tax practitioners, and other business advisors to expand their service offerings. The reports require the listing of all "beneficial owners," and they are imprecisely defined, possibly requiring an exercise of judgment. Therefore, proper education of professionals and business owners is paramount for accurate reporting. The course includes an overview of the CTA and a detailed discussion of what information needs to be reported to FinCEN.

Credits

Number of Credits Type of Credits
2.00 Finance

Designed For

Accounting and finance professionals who service clients affected by the new CTA, and accounting and finance professionals whose own entity may be affected as well.

Highlights

  • The Corporate Transparency Act and its goals 
  • Which entities need to file reports and which entities are exempt? 
  • Deep dive into the definitions of beneficial owner and substantial control 
  • Information that needs to be reported 
  • Logistics on how and when to file the forms

Objectives

  • Understand the goals of the beneficial ownership reporting
  • Identify what entities need to file the reports and what information needs to be provided

Notes

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Prices

Member (Early Bird)
$79.00
Non-Member (Early Bird)
$109.00
Member
$79.00
Non-Member
$109.00
Your Price: $109.00

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Instructors

Jason Carney, CPA, CISA, PMP, CISSP, CCSP

Jason is a Lead Information Security Analyst with Thomson Reuters. He has more than 15 years of experience in public accounting, consulting, and industry. His specialties include information security, tax problem resolution, and data analysis. Jason has worked in Federal Finance, Information Security, and Tax.

Jason is a member of the Minnesota Bar and was a President's Scholar at the University of Saint Thomas Law School. He co-founded the Scott County Conciliation Clinic and represents impoverished debtors pro bono in association with the Volunteer Lawyers Network. He wrote "What is Business Intelligence and Why Should CPAs Care?" for Footnote magazine and contributed to the upcoming publication What Every Lawyer Needs to Know About Client Trust Accounts.

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