Lexis Nexis The Corporate Transparency Act Compliance Guide
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The Corporate Transparency Act Compliance Guide contains a detailed analysis of the 2020 Corporate Transparency Act and FinCEN’s implementing regulations for beneficial ownership reporting.
This Guide is intended for attorneys and other professionals, to assist them in advising clients on complying with the CTA. The Guide contains detailed examples that interpret FinCEN’s regulations with respect to the identification of beneficial owners under the several ownership tests and substantial control tests. The Guide contains compliance checklists and model forms to assist companies in developing compliance policies and corporate governance provisions.
The previous edition's ISBN is 9781663360571.
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“As anyone who has struggled to comply with a new regulation knows all too well, legislation isn’t always drafted in the most straightforward language and often contains nuances that may be difficult to decipher and apply in certain circumstances. In his recent book, “The Corporate Transparency Act Compliance Guidance,” Jonathan Wilson explains the Corporate Transparency Act and presents the law and its application in a coherent and accessible manner, making the book a valuable resource for those with limited legal knowledge as well as more experienced attorneys and practitioners. The text is clearly written, well-organized, and presents a range of practical, illustrative examples. It is a must for anyone who may be impacted by the Corporate Transparency Act or works with those who are or will be affected.”
Ola Tucker, Adjunct Instructor at Delaware Law School; Author, The Flow of Illicit Funds, Georgetown University Press (2022)
“With the implementation of CTA reporting requirements fast approaching, everyone who advises businesses about their formation, taxation or maintenance needs The Corporate Transparency Act Compliance Guide. Jonathan Wilson has made an otherwise daunting, lengthy and sometimes vague Act, comprehensible and easy to understand quickly. While not every question about the implementation and the ultimate enforcement of the CTA can be anticipated, the examples in this book provide readers with analysis of the practical application of the CTA to many common business structures. This comprehensive guide is a must have for those advising on and implementing CTA compliance programs.”
Lisa C. Thompson, Thompson Law Group, Author, Arizona Legal Forms: Limited Liability Companies and Partnerships (Annually), Arizona Business Law Deskbook (Annually) and other business law books.
“The Corporate Transparency Compliance Guide is an essential resource for anyone seeking to understand the Corporate Transparency Act. The book provides a comprehensive overview of the Act and its impact on businesses, including foreign firms doing business in the US. It is a valuable resource for lawyers, accountants, and business owners who need to comply with the Act's reporting requirements. The book also covers the impact of the Act on family firms doing business in the US, as well as the key exemptions for companies that will be relieved from a duty to file. Additionally, the book explores corporate governance mechanisms, procedures to prevent economic crime, and reduce companies' risk exposure as well as model language for shareholders agreements, LLC operating agreements and compliance policies. Overall, the book provides a comprehensive overview of the Act and its impact on businesses, making it an invaluable resource for lawyers, accountants, and business owners who need to comply with the Act's reporting requirements.”
Matthew F. Erskine, Erskine & Erskine LLC, Worcester, Massachusetts, Forbes contributor
"The Corporate Transparency Act Compliance Guide serves as a valuable resource for businesses and attorneys navigating the intricacies of the Corporate Transparency Act (CTA). This comprehensive guide provides clear and concise information, making it an essential companion for lawyers, accountants, and business owners striving to ensure compliance with this significant legislative measure.
The author breaks down the key provisions of the act and explains its implications and provides the necessary steps for compliance, best practices, and equips readers with tools to meet CTA requirements. The clarity and organization of the content make, "The Corporate Transparency Act Compliance Guide" easily accessible and allow readers to be able to grasp the intricacies of the act for both legal professionals and non-experts.
The Corporate Transparency Act Compliance Guide is a valuable resource for any organization seeking to navigate the complexities of the Corporate Transparency Act. Its practical approach, makes this book a valuable asset for lawyers, accountants, and businesses. Whether you are a CEO, legal professional, or compliance officer, this guide will empower you to navigate the challenges posed by the CTA.”
Sean Buckley, Adams & Reese
Table of contents
Chapter 1. Introduction
Chapter 2. How the Act Works
Chapter 3. What is a Reporting Company?
Chapter 4. Exempt Entities
Chapter 5. Beneficial Owners: By Ownership
Chapter 6. Beneficial Owners: By Substantial Control
Chapter 7. Excluded Persons
Chapter 8. Examples and Applications
Chapter 9. Initial Report and Subsequent Changes
Chapter 10. Compliance Practices
Appendix 1. The Corporate Transparency Act
Appendix 2. The Final Rule-- 31 CFR 1010.380
Appendix 3.Parts II – V of FinCEN’s release of the Final Rule on September 30, 2022
Appendix 4. Model Shareholders Agreement
Appendix 5. Model LLC Operating Agreement
Appendix 6. Model Compliance Policy
