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Corporate Transparency Act: Reporting Beneficial Ownership to FinCEN, Filing Requirements and Exceptions

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Wednesday, October 18, 2023

Recorded event now available

or call 1-800-926-7926

This webinar will review the Corporate Transparency Act and its beneficial ownership reporting requirements. Our panel of astute tax professionals will walk you through the key definitions and the new reporting requirements and offer suggestions on complying with the Act for companies, trusts, and individuals.


Effective Jan. 1, 2024, the beneficial ownership disclosures include the legal name, date of birth, current address, and identifying numbers of these owners. There are also requirements to immediately update prior information as changes take place. Although these reporting requirements may align with FinCEN's purpose, to safeguard the financial system and promote national security, many businesses, practitioners, and owners believe these requirements will likely be an intrusive burden.

Owners have concerns about the security of their personal data. Practitioners are struggling with the lack of definitive guidance. However, businesses not complying willfully could be subject to penalties of $500 per day and $10,000 per year.

Listen as our panel of tax reporting experts explains how to prepare for the new Corporate Transparency Act. Tax advisers working with businesses, trusts, and individuals must ready themselves for this new onerous reporting requirement.



  1. The Corporate Transparency Act
  2. Regulations
  3. Definitions
  4. Disclosure information
  5. Disclosure timing
  6. Unresolved issues
  7. Best practices


The panel will cover these and other critical issues:

  • Who is subject to the reporting requirements of the Corporate Transparency Act?
  • How and what attribution rules might affect reporting obligations?
  • What are the penalties and sanctions for nonreporting?
  • What information is required to be disclosed?


McCormick, Patrick
Patrick J. McCormick, J.D., LL.M.

Founder/Managing Partner
McCormick Tax

Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting...  |  Read More

Warren, David
David A. Warren, JD

Co-Founder and Chairman of the Board
Bridgeford Trust Company

Mr. Warren is an attorney with over 20 years of professional experience practicing law and working in the financial...  |  Read More

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