Is Your Business Ready for the Corporate Transparency Act (CTA)?
The Corporate Transparency Act (CTA) introduces new provisions that went into effect on January 1, 2024, requiring many small businesses to file a Beneficial Ownership Information (BOI) report with FinCEN. Businesses formed before January 1, 2024, have until January 1, 2025, to comply, while businesses created after January 1, 2024, must file within 90 days of formation.
At Stimpson & Associates, we understand how overwhelming new compliance requirements can be. That’s why we’re here to help you navigate the complexities of the CTA, including identifying who qualifies as a “beneficial owner” under the law.
What You Need to Know
The CTA aims to prevent fraudulent activity by increasing transparency. While some businesses may qualify for exceptions, most small businesses must comply. Filing your BOI report isn’t just a box to check—it’s a critical step in keeping your business in good standing.
How We Can Help
- Expert Guidance: Our attorneys will help you determine who qualifies as a beneficial owner and ensure your filing is complete and compliant.
- Peace of Mind: We’ll work with you to navigate the filing process, saving you time and reducing stress.
Deadlines Are Approaching
Don’t delay—if your business was established before January 1, 2024, the filing deadline is just around the corner. Waiting until the last minute could lead to unnecessary challenges.
On-Demand Webinar: Breaking Down the CTA with Occams
In this 30-minute webinar SBAM’s expert partner, Occams, will tell you who within your company needs to file, when the reporting deadlines are, and where you can go for help. Click HERE to watch a recording.
Stimpson & Associates is here to help you navigate the complexities of the Corporate Transparency Act. Schedule a consultation today to ensure your compliance and safeguard your business.