{"id":6655,"date":"2024-02-20T08:10:51","date_gmt":"2024-02-20T13:10:51","guid":{"rendered":"https:\/\/www.khflaw.com\/news\/?p=6655"},"modified":"2024-02-20T08:10:51","modified_gmt":"2024-02-20T13:10:51","slug":"understanding-your-obligations-under-the-corporate-transparency-act","status":"publish","type":"post","link":"https:\/\/www.khflaw.com\/news\/understanding-your-obligations-under-the-corporate-transparency-act\/","title":{"rendered":"Understanding Your Obligations under the Corporate Transparency Act"},"content":{"rendered":"<p>The Corporate Transparency Act (the \u201cCTA\u201d) is a new federal law that became effective on January 1, 2024. Aiming to provide law enforcement with the tools and information to detect, prevent, and punish financial misconduct via business entities, this new law requires certain businesses to report \u201cBeneficial Ownership Information\u201d (or BOI) to the US Department of the Treasury\u2019s Financial Crimes and Enforcement Network (FinCEN). Since failure to comply with these new obligations could bring civil and criminal penalties, it is essential for business owners to be informed of the law and to comply with the CTA\u2019s reporting requirements. <a href=\"https:\/\/www.khflaw.com\/news\/understanding-your-obligations-under-the-corporate-transparency-act\/#more-6655\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Corporate Transparency Act (the \u201cCTA\u201d) is a new federal law that became effective on January 1, 2024. Aiming to provide law enforcement with the tools and information to detect, prevent, and punish financial misconduct via business entities, this new law requires certain businesses to report \u201cBeneficial Ownership Information\u201d (or BOI) to the US Department [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[507,414,503],"tags":[],"coauthors":[512],"class_list":["post-6655","post","type-post","status-publish","format-standard","hentry","category-outside-general-counsel","category-publications","category-risk-management-counseling"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Understanding Your Obligations under the Corporate Transparency Act &#8212; Kang Haggerty News &#8212; February 20, 2024<\/title>\n<meta name=\"description\" content=\"The Corporate Transparency Act (the \u201cCTA\u201d) is a new federal law that became effective on January 1, 2024. 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