In this episode, Jason Hartman discusses the Corporate Transparency Act, effective January 1, 2024. The act mandates companies doing business in the U.S. to report beneficial ownership information to the government to combat money laundering. Hartman emphasizes the exemptions, including securities issuers, government entities, banks, and more. He highlights the 57-page guide available for compliance, suggests seeking professional help, and warns of hefty penalties for non-compliance. The discussion touches on the complexities, potential loopholes, and challenges posed by the new law, urging listeners to stay informed and compliant with evolving legal requirements.
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Download the PDF guide here https://www.fincen.gov/sites/default/files/shared/BOI_Small_Compliance_Guide.v1.1-FINAL.pdf
#CorporateTransparencyAct #Compliance #BusinessLaws #MoneyLaundering
Key Takeaways:
1:19 So many laws!
3:01 The Corporate Transparency Act
11:17 What companies are affected
15:10 A 57 page Guide and who’s exempt
19:09 How to Profit from Millions of Americans Moving to the Suburbs
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