BarbriSFCourseDetails
  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Real Property - Transactions
  • schedule 90 minutes

Corporate Transparency Act Impacting Construction Industry: Covered Entities, Reporting Requirements, Exemptions

Determining Who is a Reporting Company, Performing Due Diligence for Extensive Reporting, Mitigating Risk of Serious Penalties

$297.00

This course is $0 with these passes:

CLE
ALL
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Description

The CTA, effective as of Jan. 1, 2024, requires certain U.S. and foreign entities defined as "reporting companies" to report certain identifying information about themselves, their beneficial owners, and company applicants to FinCEN (the U.S. Dept. of the Treasury's Financial Crimes Enforcement Network) within a certain prescribed time period.

These first-ever federal and new reporting rules will affect millions of reporting companies and will likely impose a heavy burden on construction companies, especially smaller businesses, who do not meet one of the exemptions and must comply with the reporting requirements. Failure to comply with the new reporting requirements will result in serious civil and criminal penalties.

Therefore, it is imperative that counsel and their clients who are potentially affected by the CTA determine whether they qualify as a reporting company or are otherwise exempt. If an entity qualifies as a reporting company, counsel must understand the information that is required to be reported and when and be able to walk their clients through the necessary due diligence process that should be undertaken to file a true, correct, and complete report. In addition to the CTA, counsel should be aware of any applicable state-level reporting requirements.

Listen as our expert panel guides counsel through the CTA and discusses its impact on construction entities. The panel will also address state laws that may have similar reporting requirements and offer best practices for CTA compliance.

Presented By

George H. King
Partner
Lang Thal King & Hanson, PC

Mr. King is the firm’s lead partner in business law, contract formation, and entity formation, and he represents companies in commercial, intellectual property, and environmental litigation. Mr. King is a Super Lawyers and Thomson Reuters “Stand-Out Lawyer” selectee with a master’s degree in Chemistry.

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Joseph C. Unger

Mr. Unger’s primary areas of practice are corporate, transactional, environmental, and energy law. He has extensive experience assisting construction and other clients in general business and corporate matters. He is well-versed in assisting clients with Corporate Transparency Act compliance, as well as a range of other matters, including entity formation and contracts, commercial transactions and financing documents, and environmental regulatory issues.  

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Alison M. Zeitlin

Ms. Zeitlin’s practice is focused on mergers and acquisitions, commercial transactions, and corporate governance matters. She has extensive experience in negotiating and managing contracts for clients across various industries, including the construction industry. Ms. Zeitlin has represented clients through numerous business transactions and regularly counsels clients on risk mitigation methods for their businesses, including best practices for corporate compliance matters.

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Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, April 16, 2024

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Corporate Transparency Act
    1. Reporting company
    2. Beneficial ownership
    3. Company applicants
    4. Reporting requirements
    5. CTA exemptions
    6. Beneficial ownership information storage and access
  2. Impact on construction entities
  3. Penalties
  4. State laws with similar reporting requirements
  5. Best practices for compliance

The panel will review these and other important considerations:

  • Which construction entities will likely be most affected by the CTA's implementation and why?
  • What exemptions may apply?
  • How may counsel assist their clients in determining what information should be reported? What are the timelines for reporting?
  • How will beneficial ownership information be stored and who will have access to the information?
  • What state laws should counsel be aware of that may have similar reporting requirements?