Blogs

In this article: “The Corporate Transparency Act: Shedding light on a stealth statute” (Legal Dive), Gunster Securities and Corporate Governance practice Chair and long-time Society member Bob Lamm provides an instructive overview of the far-reaching Corporate Transparency Act (CTA), which is currently scheduled to become effective January 1, 2024, unless successfully delayed (see, e.g., the “Protecting Small Business Information Act of 2023” and “FinCEN issues a Notice of Proposed Rulemaking to extend the deadline for certain companies to file their beneficial ownership information reports”). The Act is expected to impact more than 32 million small and medium-sized businesses in year one and an additional five million companies annually in years two through 10. 

Editor’s Note: Join the Private Companies Committee and Corporate Practices Committee for a joint virtual meeting on Thursday, October 12 from 3:30 – 4:30 pm ET to understand, ask questions about, and share perspectives on the CTA. This is not a webinar but rather is intended to be a free-flowing discussion and safe forum for members to learn about the CTA, information-share, and ask questions. Register here.

If you are not a member of either of these committees and are interested in joining (subject to eligibility as respects the Private Companies Committee), please contact Sheryl Jarvis at sjarvis@societycorpgov.org.

                       This post first appeared in the weekly Society Alert!