Corporate Transparency Act: Penalties and How To Avoid Them

To learn more about the Corporate Transparency Act and get the most updated information, explore this page for more details: aba.link/a38773
Executive Attorney Amanda Wynalda discusses the penalties about the Corporate Transparency Act and how to avoid them.
With the CTA coming into effect on January 1, 2024, this video is your go-to guide for comprehending the legislation, ensuring your business stays on the right side of compliance.
Noncompliance with the CTA can have dire consequences. On the civil side, violations can lead to fines of up to $500 per day for each day of noncompliance. But it doesn’t end there. On the criminal side, Individuals could face imprisonment of up to two years and additional fines of up to $10,000.
These penalties apply to willful failure to report or update information OR providing false information - such as fraudulent driver’s licenses or passports.
Getting started now can safeguard your business and YOU. Reach out to Anderson Advisors and don't leave your compliance to chance. Take care!
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Disclaimer
The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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