January 27, 2021

Like It or Not, Beneficial Ownership Disclosure Is Going to Happen – What You and Your Clients Need to Know

Like It or Not, Beneficial Ownership Disclosure Is Going to Happen – What You and Your Clients Need to Know

Wednesday, January 27, 2021

Presented by: LLCs, Partnerships and Unincorporated Entities

The Corporate Transparency Act, adopted as Title LXIV (64) of the 2021 National Defense Authorization Act, mandates the creation of a national database for the “beneficial ownership” of many businesses, and requires an affirmative election of those companies exempt from the ownership reporting requirements.  Attend this important program for the first review of the newly passed federal requirement for small and not-so-small businesses. Learn:

  • Who is affected by this newly passed legislation and the compliance requirements.
  • What qualifies as a “beneficial owner” of an entity and what is excluded.
  • What are the penalties for failure to file accurate information (hint up to $10K and 2 years prison).
  • Who must file complete the filing and who is exempt.
  • What effect might this filing have on small business entity organic documents.
  • What potential ethical landmines should attorneys avoid.
  • How should you start preparing your clients for the BO filings.
  • What will be the timeline for the implementation of this legislation.

Panelists:

  • Robert W. Downes, Sullivan & Cromwell, New York, NY
  • Christina Houston, DLA Piper, Wilmington, DE
  • Garth Jacobson, Formerly CT Corporation, Seattle, WA
  • Thomas Rutledge, Stoll Keenon Ogden, Louisville, KY

Members of the Business Law Section may access the program materials and video from this program. Log in using your email address.

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