Corporate Transparency Act Services
The Corporate Transparency Act (CTA) levies new obligations on reporting companies that bring with them new risks from non-compliance. Agile Legal can make sure you avoid those risks, put you in compliance, and ensure you stay there. New companies that are formed after the effective date and are non-exempt will have 30 days to submit their initial beneficial owner information report. Existing companies that are non-exempt will have until January 1, 2025 to submit their initial reports.
Understanding the
Corporate Transparency Act
As someone with decision-making and legal responsibilities in your company you may well feel at a loss as to where to start when it comes to complying with these new regulations. Agile Legal is here to simplify the compliance process and keep you compliant by managing the whole process of meeting the CTA’s requirements.
In order to be compliant with the CTA’s regulations, you must first determine if any of your entities fall under one of the 23 exemptions. For any non-exempt companies, you then need to report your beneficial owners or employees with substantial control over the business. While you may be hesitant to release your personal identifying information, compliance with these requirements will protect your business from harsh fine and penalties.
Agile Legal’s team of attorneys, certified AML professionals, and senior paralegals have studied the new law extensively. We’ve designed a system so we can keep our clients compliant with the CTA’s regulations.
Need More Information About the Corporate Transparency Act?
Don't Expose Yourself to Unnecessary Risk
Missed Deadlines
Disorganization during the planning process can lead to missed deadlines, sending your progress backwards.
Delayed Entry
Non-compliance and unfamiliarity with local regulations may delay your entry into a country, sacrificing your time and money.
Unsuccessful Projects
These and countless other disruptions hinder the success of your projects and complicate meeting performance goals.
Common Problems When Managing Global Subsidiaries
DELAYS
Delays in entering a country are stressful and can impact the bottom line of your business.
BARRIERS
Language, informational, and political barriers make the process of expansion frustrating.
CAPACITY
Lack of local expertise shouldn't hold you back from managing global subsidiaries.
Not Complying with the Corporate Transparency Act Puts Your Business at Risk
In addition to your usual day-to-day responsibilities, reporting companies must now submit beneficial owner information reports to FinCEN – as many as one every month.
The Corporate Transparency Act is brand new, coming into effect Jan 1, 2024. CTA compliance is unfamiliar and time-sensitive, adding to the pressure you're already under.
Corporate compliance is already hard enough. You need an easy pathway to CTA compliance that will protect you from up to $10,000 in fines or 2 years of imprisonment.
- Stress of managing compliance on your own
- Penalties and fees for non-compliance
- Inconsistent company-wide policies for updating reports
- Waste time and money with a reactive approach to compliance
- Overlook critical exemptions and requirements
- Missed filing deadlines
What You Risk without CTA Compliance Services
Managed Services For Corporate Transparency Act Compliance
Policy Creation
- Reporting
- Changes
- Monitoring
- Communication
BOIR Preparation
- Help verify Beneficial Owner information
Beneficial Owner Identification
- Identify and document Beneficial Owners
by interest and substantial control
Reporting Company Exemption Analysis
- Review company records & entity charts
- Document exemption status by Reporting Company
- Monitoring
- Communication
BOIR Filing and Monitoring
- File BOIR with FinCEN, filing updates as needed
- Monitor changes to:
- Beneficial Owners
- Reporting Company
- FinCEN and CTA laws and rules
Managed CTA Compliance – Enterprise
- Help verify Beneficial Owner information
- File BOIR with FinCEN, filing updates as needed
- Monitor changes to:
- Beneficial Owners
- Reporting Company
- FinCEN and CTA laws and rules
Managed CTA
Compliance – Lite
- Receive Reporting Company and Beneficial Owner Information
- BOIR Preparation
- BOIR Filing
Prepare and File BOIR
Beneficial Owner Information Report
- Review Reporting Company:
- Structure & org chart
- Size
- Regulatory status
- Identify applicable exemptions
- Document exemption status by Reporting Company
Exemption Analysis
- Review Ownership and Management of Reporting Company
- Identify Beneficial Owners based on interest or substantial control
- Owners
- Decision makers
- Substantial control
Beneficial Ownership Identification
Comprehensive review and documentation of policies and processes for maintaining compliance with CTA, including Reporting Company duty to verify and make diligent inquiry.
Process and Policy Creation
Global Subsidiary Management Tiers
To simplify your entity management, Agile Legal has designed tiers that package our management services, making it easier for our clients to get the help they need.
Not Sure What Services You'll Need?
Contact our international team and we can advise what tier is best for you.
Where We Can Assist With Global
Subsidiary Management
We have extensive country coverage across the globe
This map shows the countries where Agile Legal currently manages entities. These countries are categorized either as Band A or Band B. These bands are based upon the differing levels of complexity of corporate compliance for entities in those countries.
Band A countries have fewer and less complicated regulations for entities than countries in band B. This often correlates with whether a country has a civil law or a common law legal system. Countries with civil law systems tend to be more bureaucratic and stringent with compliance, requiring more work and expertise.
Learn more about the impact of common law and civil law legal systems on global subsidiary management in our blog article.
Looking to Dissolve a Global Subsidiary or Branch?
Agile Legal provides cost-effective and timely rationalization services to help you dissolve underperforming subsidiaries and branches. Check out our International Services page to learn more.
How the Corporate Transparency Act Affects
Formations & Dissolutions
The CTA affects a wide range of fields, and formations and dissolutions are no exception. While the CTA is still in its infancy and will likely be changing as 2024 progresses, these infographics demonstrate how the current state of the CTA affects corporate formations and dissolutions.
Unsure Where to Start with International Support?
Use our contact us page to get in touch with us to see if working with the international team is a good fit for you.
Need International Support?
We have extensive country coverage across the globe
Contract Clause Library
Concerned about your knowledge of different contract definitions?
View our contract clause library to stay up to date with the terminology you should be using in your contracts.
Client Testimonial
Our Process
Order a Legal Service
Tell us your needs.
Follow Up Call
We will arrange a time to speak to you about getting the help you need.
Safeguard Your Success
You will get the services you need.
Have Outstanding Questions About the CTA?
Agile Legal’s team of CTA experts are ready at your disposal to answer any questions you may have about the CTA and its compliance requirements. Book a meeting with us to get 1:1 support from our compliance professionals.
Corporate Transparency Act Compliance Services
The effective date of the Corporate Transparency Act (CTA) is swiftly approaching. While pre-existing reporting companies will have until the end of 2024 to submit their beneficial owner information, companies should not delay in gathering their information. Failing to submit reports on time can lead to harsh consequences – up to $10,000 in fines or 2 years imprisonment, or both. Compliance with the CTA demands significant attention to detail and timeliness, not to mention a deep understanding of its requirements. Agile Legal’s team has expended time and resources to become subject matter experts of the CTA. Engage with us today to ensure your business is compliant and won’t be dragged down by government penalties.
Looking to dissolve a foreign entity?
Check out our rationalization services.