This is your unique opportunity to tell the federal government your thoughts on the Corporate Transparency Act (“CTA”).

As you know, I’ve been concerned about the CTA and its effects on our small business community. The CTA was enacted to collect information on owners of corporations, LLCs, and other entities to curb illegal activities such as money laundering, tax fraud, human and drug trafficking, financing terrorism and other serious crimes by collecting personal information on business owners. The CTA’s broad reach will affect many companies and individuals, far beyond those engaged in illegal activity.

Many small business owners are required to timely report into FinCEN’s database or be subject to fines and potential criminal penalties for non-compliance.

FinCEN is currently seeking comments from the public on the information to be collected from authorized recipients requesting beneficial ownership information (this means information such as your name, address, date of birth, and an appropriate id like a drivers license or passport).

Your voice matters: Make your comments into the federal register by the August 22, 2024.

Click Here to Make Your Comments

Are you concerned about reporting under the CTA? We can help with fees starting at $97. Click here to contact us for more information.