Have you heard about the new Corporate Transparency Act?  Many businesses in the United States will soon be required to report information on their business and certain individuals with “Beneficial Ownership” of the business.  I have attached a booklet prepared by the United States Department of the Treasury that you should find to be helpful.

The PUPOSE of the Corporate Transparency Act is in part to assist law enforcement in detecting criminal activity.


Those of us who will be considered a Company Applicant for those businesses we file to form will be filing for a unique ID of our own (in addition to our business filings) so that the only information a new business will need to file about us is our unique ID number.

For some, this is a lot, and may feel overwhelming.  But don’t think about not providing this required information.  The penalties for failure to comply include both criminal and civil penalties:  imprisonment of up to 2 years, and monetary fines of $500 per day, up to $10,000.00.  Penalties can be assessed personally against “Senior Officers” or the person(s) acting in that capacity).

If you need assistance with your filings after 1/1/24, please reach out to me!  As always, I am here to help you!

Your friendly neighborhood lawyer,
















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