BusinessFree legal clinic for small businesses on CTA reporting

Free legal clinic for small businesses on CTA reporting

The D.C. Bar Pro Bono Center and Honigman law firm are partnering on a free legal clinic for small businesses to understand their reporting requirements under the federal Corporate Transparency Act (CTA) on April 6.

The CTA aims to help prevent and combat money laundering, terrorist financing, corruption, tax fraud, and other illicit activity. 

Under the legislation, small businesses that are corporations, limited liability companies, or certain other for-profit entities must submit beneficial ownership information to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) by 2025. 

At the in-person clinic, small business owners will meet one-on-one with an attorney to discuss how the CTA beneficial ownership information (BOI) reporting requirements affect the business, help determine if the business is exempt, and/or help prepare to file the necessary BOI report with FinCEN.

Registration is required. Completing registration does not confirm the business’s attendance at the clinic. 

The D.C. Bar Pro Bono Center will email eligible small businesses with additional information.

For more information, email npsb@dcbar.org.

James Wright Jr. is the D.C. political reporter for the Washington Informer Newspaper. He has worked for the Washington AFRO-American Newspaper as a reporter, city editor and freelance writer and The Washington…
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Source: Washington Informer

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