The Wichita Regional Chamber of Commerce will host an hourlong webinar discussing the Corporate Transparency Act.
The Corporate Transparency Act is a new federal law that requires many companies to report information about the individuals who own and control them in an effort to combat money laundering, terrorist financing, corruption, and other illicit activity. The Corporate Transparency Act is expected to affect over 32 million small and medium-sized businesses in the United States. This presentation will provide an overview of the key components of the Corporate Transparency Act, including:
- Which entities are “reporting companies”?
- Which entities are exempt from reporting?
- Who is a beneficial owner?
- What personal information must be reported?
- What are the deadlines for filing?
- What are the penalties for failing to timely file?
- How can you prepare for compliance?
In this session, you will hear from Sarah Buchanan, Associate Attorney at Foulston Siefkin LLP.
