Comply with the CTA 
Quickly and Efficiently
Compliance with the CTA: Are You Prepared?
Fines can be from $500 per day up to $10,000 for non-compliance and/or imprisonment of up to 2 years.
Do you have to comply with the CTA?
The consequences for non-compliance with the Corporate Transparency Act (CTA) are substantial fines and potential imprisonment.
Our independent US attorneys will walk you step by step through our simple process toward full CTA compliance.
FAQs
What is the Corporate Transparency Act (CTA)?
The Corporate Transparency Act requires certain businesses to disclose their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). This helps promote transparency and accountability in corporate structures.
Who is required to comply with the Corporate Transparency Act?
The CTA applies to most corporations, limited liability companies (LLCs), and other similar entities created or registered to do business in the United States. However, there are some exemptions for highly regulated companies, such as publicly traded companies, large operating companies with more than 20 employees, and entities already subject to certain federal regulations.
What information needs to be reported under the Corporate Transparency Act?
Some businesses must report detailed information about their beneficial owners, including full legal name, date of birth, residential or business address, and a unique identifying number from an acceptable identification document (e.g., passport, driver’s license). This information must be kept up-to-date with FinCEN.
What are the consequences of failing to comply with the Corporate Transparency Act?
Failure to comply with the CTA can result in significant penalties, including fines from $500 per day up to $10,000 for non-compliance and/or imprisonment of up to 2 years. Ensuring compliance is crucial to avoid these severe repercussions.
How can your service help me comply with the Corporate Transparency Act?
You’ll be referred directly to one of our independent US attorneys who will walk you step by step through our simple process toward full CTA compliance. After an initial consultation with a LawFlex attorney, you’ll be advised whether you are obligated to comply with the CTA or not. If you are obligated to comply, your attorney will assist in gathering and submitting the necessary information, and ensure your filings are accurate and timely, and/or advise you on a corporate restructuring, if need be. If you are exempt from complying, your attorney will provide you with a legal opinion stating that you do not need to comply with the CTA.
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