Thursday, April 28, 2022
2:45 PM
to
3:45 PM
Back To Event
About the Program
2021 was filled with a significant amount of legislative activity that impacted the wealth planning and tax practice. While most planning practitioners were focused on the constant ping pong of the Build Back Better Act developments, other, less mainstream bills, like the Corporate Transparency Act (part of the National Defense Authorization Act for Fiscal Year 2021) swiftly worked their way through the legislative process. The CTA was enacted into law on January 1, 2021, and proposed regulations were published on December 7, 2021. The CTA represents the most significant reformation of the Bank Secrecy Act and related anti-money laundering rules since the US PATRIOT Act. All wealth planning and tax practitioners will need to understand the compliance obligations under the CTA, which is mainly focused on requiring corporations, limited liability companies, partnerships, and indirectly trusts, to disclose information on their beneficial owners. The reporting requirements cast a broad net, can be onerous, and are riddled with exceptions. This panel will cover the history behind the enactment of the CTA, key provisions under the CTA and recently issued proposed regulations, and practical considerations on how practitioners can comply with the guidance available to date.
You Will Learn
• History behind the enactment of the CTA
• Key provisions under the CTA and recently issued proposed regulations
• Practical considerations on how practitioners can comply with the guidance available to date
Credits
CT: 1.0 CLE Credit (General) / NY: 1.0 CLE Credit (AOP)
The Connecticut Bar Association/CT Bar Institute is an accredited provider of New York State CLE. This program qualifies for transitional and non-transitional CLE credits.
Attorneys seeking NY CLE credit who have been admitted to the New York State Bar for two years or less must attend the live seminar for skills or ethics credit, or a fully interactive videoconference. Diversity, Inclusion and Elimination of Bias CLE credits are only available as non-transitional credits. For further information about transitional and non-transitional courses, please see the NYCourts.gov page on CLE: http://ww2.nycourts.gov/attorneys/cle/index.shtml.
Financial hardship information is available upon request.