Complying With the Corporate Transparency Act: A Guide for Client Protection

Overview

You could pay $0 for this course!

The Corporate Transparency Act (CTA) is a new federal law aimed at increasing transparency in corporate ownership to combat illegal activities such as money laundering and terrorist financing. This course is designed for CPAs, EAs, attorneys, and financial professionals who need to understand the CTA's requirements and how it may impact their clients. Participants will learn the key provisions of the legislation, including who is required to disclose ownership information, the reporting process, and penalties for noncompliance. The course will also cover the exceptions to the CTA and how these may affect different types of clients.

In addition to compliance, this course will help professionals identify and mitigate risks associated with the law, offering strategies to protect clients' interests. Attendees will explore how to use the CTA to benefit clients by understanding its impact on corporate structures and regulatory reporting. This knowledge will ensure that professionals are well-equipped to advise their clients and keep them compliant with the CTA's requirements.

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-13230. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

• Identify the applicability of the CTA to an advisor’s clients
• Learn the fundamentals of the CTA, including its purpose, scope, and compliance requirements
• Explore the potential risks and benefits associated with the law and how it can affect your clients’ interests
• Understand the CTA’s impact on corporate structures, reporting requirements and enforcement mechanisms
• Learn how to navigate the regulatory landscape to ensure compliance
• Identify which entities are now required to disclose owner information
• Discuss the reporting requirements of the CTA
• Learn what entities are subject to the exceptions of the CTA
• Understand the penalties for noncompliance of the CTA 

Designed For

CPAs, EAs, Attorneys, Financial Advisors 

Objectives

At the end of this course, you will be able to:
• Discuss the skills and knowledge necessary to advise clients on how to comply with the CTA and protect their interests.
• Identify and mitigate potential risks associated with the law
• List ways to leverage the CTA to create a competitive advantage for your clients