Corporate Transparency Act 2024

The Corporate Transparency Act goes into Effect on December 31, 2024.

Have you filed your Beneficial Ownership Information Form?  Congress announced this requirement a few years ago and the deadline for compliance is January 1, 2025.

Companies, LLCs, partnerships, C Corps and S Corps will face fines of $500 per day for non-compliance. More than 32 million companies are required to report this information.

Berkowitz Pollack Brant can help. We’ve established a process to securely collect your data, complete and file the required forms. Your information will be protected using our secure Box file.

Allowing us to assist will require an addendum engagement letter and your completion of a checklist of information. Our streamlined process is available for a flat fee, with a discounted rate for more than 10 entities. Each entity is required to complete the Beneficial Ownership Information Form.

If you are behind schedule and need our assistance, email CTAFiling@bpbcpa.com to get the process started.

Our process:

• Reach out to CTAFiling@bpbcpa.com or contact your advisor
• Sign the Corporate Transparency Act engagement letter
• Follow the checklist and submit your required documents to the Box link provided by your advisor
• Review and sign the BOI form – our team will evaluate and input the information

For more information, you can read about the CTA here, watch a short video here or listen to a podcast episode here.