Corporate Transparency Act (273)

General Description:

Participants will learn how the Corporate Transparency Act (CTA) will affect small business owners beginning January 1, 2024. The CTA was enacted as section 31 U.S.C. 5336 of the Anti-Money Laundering Act of 2020. The course provides analysis and review of the underlying purposes of the Act, identification of domestic and foreign business entities affected, the reporting disclosure obligations and timelines for certain identified business owners, including trusts, and the role of FinCEN in data collection efforts and options. The course will highlight practice tips for practitioners who will be assisting clients in reporting. Updated following the December 3, 2024, injunction under Texas Top Cop Shop that suspended reporting requirements and the January 23, 2025, action by the U.S. Supreme Court that lifted that injunction.

Learning Objectives:

After completing this course the participant will be able to:

• Explain the purposes of the Corporate Transparency Act.
• Identify which entities are required “Reporting Companies” and which are not.
• Determine who are considered “Beneficial Owners” in business entities under the CTA, and why.
• Describe the exceptions to Beneficial Ownership in a business entity.
• List the Beneficial Ownership Information required for reporting.
• Describe the role of FinCEN and the current options for reporting.
• Implement practice tips for practitioners assisting in the reporting process.

Instructors:

Janine A. Guillen is a principal in her trusts and estates firm in Lone Tree, Colorado. Licensed in Colorado and New York, her practice focuses on generational wealth transfer planning and asset protection. She has taught for AES and CPE4U for more than five years and guest lectured at the University of Denver Sturm College of Law. Previously she was a partner in two law firms, one of which was nationally recognized in tax controversy work.

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