Business Owners & the Corporate Transparency Act
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Navigating the New Era of Business Compliance: The Corporate Transparency Act
In the world of business, the Corporate Transparency Act brings a big change, especially for small businesses and entrepreneurs. Most existing businesses and newly formed businesses will be required to file reports with FinCEN under the Corporate Transparency Act (CTA). With new rules to follow, it’s important for business owners to understand and adjust to these changes to keep their business running smoothly and legally.
At McDonough Law Group, we understand that navigating these new requirements can be daunting for business owners already burdened with the complexities of running their operations. That’s why we’re here to help. Our team is dedicated to ensuring that you not only understand these new regulations but also that your business complies with them, safeguarding you from potential legal and financial repercussions.
McDonough Law Group is offering business owners a flat-fee consultation covering the Corporate Transparency Act. This 30-minute consultation ($150) is ideal for business owners and managers to learn whether they are subject to the reporting requirements of the Corporate Transparency Act.
Filing reports with FinCEN under the CTA will apply to almost all companies, including LLCs, corporations, and other entities (Reporting Companies) that have filed or registered with the Secretary of State with a few exceptions. Reports must include the Reporting Company’s beneficial ownership information. Beneficial owners own at least 25% or have substantial control of a Reporting Company.
Report Deadlines
- Existing Reporting Companies formed prior to January 1, 2024 have until December 31, 2024.
- Reporting Companies formed in 2024 have 90 calendar days from the date of creation or registration.
- Reporting Companies created or registered on or after January 1, 2025 have 30 calendar days.
- Reports can be filed electronically.
- Reporting Company changes must be filed within 30 days.
Have McDonough Law Group File Your CTA
McDonough Law Group will work with your company to file your company CTA Report for a flat fee of $650. If you own multiple companies, call us for discount pricing.
Meet with an attorney at McDonough Law Group to have an attorney review and file your CTA beneficial ownership information report with FinCEN.
- Step 1: Click on the button below to pay the $650 flat fee. Once payment is made you will be directed to our bookings calendar to schedule your phone meeting with an attorney. If you own multiple companies, call us at 970-776-3311 for discount pricing.
- Step 2: Schedule your meeting with an attorney who will review your company beneficial ownership information.
- Step 3: You will receive an email with our Representation Agreement that includes the specific scope of legal services. Please review this agreement, and if you agree to the terms of representation, electronically sign the agreement.
- Step 4: You will receive an email with a CTA questionnaire to electronically complete.
- Step 5: Email the following documents 24 hours prior to your scheduled phone call with an attorney to info@mcdonoughlawgroup.com. In the email subject line please include CTA and your company name.
- Copy of your Secretary of State Company filing such as:
- Limited Liability Articles of Organization
- Corporation Articles of Incorporation
- Partnership
- Sole Proprietor
- Or any other company registration
- Step 6: Phone call meeting with an attorney to review your company beneficial ownership information.
- Step 7: Attorney will file your CTA beneficial ownership information report with FinCEN.
- Step 8: You will receive an email with your filed report for your records.
Business Maintenance Subscription
McDonough Law Group offers a business maintenance subscription service that includes Secretary of State annual report filing and CTA report filing with prices starting at $50/month (prices vary depending on company needs).
For general counsel services, click here.
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