In this video, we discuss three major rule changes to the Corporate Transparency Act (CTA) that are important for businesses to know.
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The new rules, effective immediately, exempt domestic companies from filing beneficial ownership information with FinCEN.
However, foreign companies with non-U.S. beneficial owners still need to comply with the CTA’s reporting requirements.
Stay informed about these changes to ensure your business remains compliant and avoid hefty penalties!
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Show Notes:
0:00 Intro
2:03 Who is exempt from filing?
2:52 The second major change to the CTA
3:26 The third major change to the CTA
5:28 Foreign Entities
7:11 The history of the CTA
9:49 Can the CTA come back?
12:15 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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