Atlanta – Morris, Manning & Martin, LLP is partnering with FinCEN Report to help its clients comply with the new Corporate Transparency Act (CTA). The partnership is designed to help business of all types, in all sectors, comply with the law that went into effect this year. The many sectors the law covers include real estate and corporate technology – two of Morris, Manning & Martin’s key markets.
Congress passed the law, often described as the biggest anti-crime measure in years, to reveal who owns, controls, and forms companies that could be used to hide or launder illegal assets. The wide-ranging law requires more than 30 million businesses, including limited liability companies and corporations, to disclose information about their owners. Failure to report beneficial ownership information (BOI) could bring fines and even prison time.
FinCEN Report is an online filing service for companies that must report BOI to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). The patent-pending Software-as-a-Service (SaaS) tool is specifically designed to help business owners and the professionals that manage their compliance to meet the new legal requirements.
Click here to learn more about the Corporate Transparency Act.
To learn more about FinCEN Report, visit FinCENReport.com.
