What is the CTA?

Effective January 1st, the Corporate Transparency Act is bipartisan legislation designed to root out bad actors using US entities to hide illicit activities. The law requires millions of US business entities to file beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN). Existing companies have until December 31st, 2024 to file their information; companies formed in the calendar year 2024 will have 90 days.

What happens if I don’t report?

Companies failing to comply with the CTA may face penalties including: (a) Civil penalty not more than $500 per day, (b) Fine of $10,000, and not more than 2 years in jail, or both, and (c) charges of unlawful failure to report, unlawful failure to provide updates, or unlaw- ful filing of a fraudulent report.

How can we help?

As your trusted corporate partner, PL Consulting is prepared to help you navigate this new federal requirement. We have attended webinars and conferences with FinCEN representatives so that we can best guide our clients on how to move forward.

What is my next step?

PL Consulting is ready to help you with this important new filing. Let us take this task off your plate and sign up for our CTA Filing Service. Our pricing starts at $200 and is based on the complexity of the filing. Once you submit your form, an AIL specialist with reach out with a payment link.

Once you submit your form, an AIL specialist from the PL Consulting team will reach out with a payment link and ask a few concluding questions about your business to ensure your CTA Filing is complete.