Abstract
Under the Corporate Transparency Act (CTA), entities existing as of January 1, 2024, must report beneficial ownership to FinCEN by December 31, 2024. Beneficial owners include those with 25% ownership or substantial control. Required information includes legal name, birthdate, address, and ID details. Non-compliance can result in severe civil and criminal penalties. Exceptions may apply for tax-exempt entities and large companies. Legal challenges to the CTA are ongoing, but compliance is advised.
Recommended Citation
Schulte, Daniel JD
(2024)
"Dentistry and the Law: Don’t Overlook Corporate Transparency Act Compliance,"
The Journal of the Michigan Dental Association: Vol. 106:
No.
8, Article 4.
Available at:
https://commons.ada.org/journalmichigandentalassociation/vol106/iss8/4
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