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BOI Reporting for Real Estate: Determining Beneficial Owners, Monitoring Changes, Actions to Facilitate Compliance

A live 110-minute CPE webinar with interactive Q&A

This program is included with the Strafford CPE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
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Tuesday, June 4, 2024 (in 11 days)

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

or call 1-800-926-7926

This webinar will comprehensively examine how the new Corporate Transparency Act (CTA) reporting requirements apply to real estate investors. Our panel of veteran real estate professionals will discuss the new reporting requirements as they apply to real estate owners and related entities. The panel will recommend specific actions individuals and entities should take to facilitate compliance with the new cumbersome act.

Description

Deciphering the reporting requirements of the CTA is challenging for all beneficial owners or potential beneficial owners. This Act's costs and administrative burdens are compounded for real estate investors. Determining who "exercises substantial control" under new and vague guidelines is particularly difficult for ownership structures that are often tiered and influenced by investors. Further, state and federal statutes regulating beneficial ownership may restrict or regulate a contemplated real estate transaction.

Whether real estate is held in an SPE, JV, LLC, or even an HOA, these entities need to take concrete steps to ensure compliance with the CTA, or otherwise, they could be subject to stiff penalties ($500 a day and even imprisonment) for ignoring or being unaware of the new reporting requirements. Additionally, these entities need to understand how the CTA relates to CFIUS, AFIDA, and other real estate beneficial ownership regulations: each of these regimes have penalties for non-compliance. Brokers, agents, developers, property managers, investors, and others must grasp the new beneficial ownership requirements as they apply to real estate investors.

Listen as our panel of real estate transaction attorneys delves into the beneficial ownership reporting requirements for lenders, buyers, and sellers of real estate.

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Outline

  1. Beneficial ownership reporting for real estate: introduction
  2. CTA:
    1. Reporting requirements and deadlines
    2. Exemptions
    3. Interpreting the requirements for real estate owners
    4. Determining who must report
    5. Monitoring changes
    6. Operating agreement modifications
  3. CFIUS, AFIDA, and other state regulations
  4. Recommendations to facilitate compliance
  5. Future considerations

Benefits

The panel will review these and other critical issues:

  • The impact of the CTA on real estate entities and investors
  • What beneficial ownership regulations could otherwise impact a real estate transaction
  • How best to determine beneficial owners of real estate
  • Steps entities should take to facilitate compliance with beneficial ownership regulations

Faculty

Bocci, Marisa
Marisa N. Bocci

Partner
K&L Gates

Ms. Bocci works on a range of transactional matters, including purchase and sale agreements, financing, and leasing....  |  Read More

Feldman, Eric
Eric N. Feldman

Partner
K&L Gates

Mr. Feldman is a partner in the firm’s Wilmington office. He practices in the areas of alternative entities and...  |  Read More

Hill, Steven
Steven F. Hill

Partner
K&L Gates

Mr. Hill is a partner in the firm’s Washington, D.C. office. He has over 25 years of experience in a broad...  |  Read More

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