Corporate Transparency Act Compliance for Tax-Exempt Organizations: BOI Reporting, Filing Requirements and Exceptions
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE webinar will review the Corporate Transparency Act (CTA) and its beneficial ownership reporting requirements as applied to tax-exempt organizations. The panel will discuss key definitions and the new reporting requirements and offer suggestions on complying with the Act for nonprofit organizations.
Outline
- Overview of the Corporate Transparency Act
- Key challenges for tax-exempt organizations
- Reporting requirements and disclosure of information
- Exemptions
- Penalties
- Best practices for tax counsel
Benefits
The panel will review these and other key issues:
- What are the key provisions of the CTA?
- How do you determine which companies are considered reporting companies under the CTA?
- What are the criteria for exemption from the CTA?
- What are the reporting requirements under the CTA rules?
- What are the key issues for tax-exempt organizations?
- How do you determine who are beneficial owner(s) under the CTA?
- What are the potential ramifications for noncompliance?
Faculty
Evgeny (Gene) Magidenko
Partner
ArentFox Schiff
Mr. Magidenko is a tax attorney who advises individual and business clients nationwide and internationally on tax... | Read More
Mr. Magidenko is a tax attorney who advises individual and business clients nationwide and internationally on tax planning, tax controversies, and transactional tax matters. He brings a strategic perspective to his clients’ matters, whether they involve tax counseling or disputes with the IRS, by drawing on his breadth of experience in the field. Mr. Magidenko also advises both for-profit businesses and tax-exempt organizations on a wide array of organizational and operational matters at all stages of their lifecycles. Additionally, he advises clients on all aspects of the Corporate Transparency Act and leads the ArentFox Schiff Corporate Transparency Act Task Force.
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Shekida Anna Smith-Sandy
Attorney
Paul, Weiss, Rifkind, Wharton & Garrison
Ms. Smith-Sandy maintains an interdisciplinary practice, advising clients on regulatory issues under federal and state... | Read More
Ms. Smith-Sandy maintains an interdisciplinary practice, advising clients on regulatory issues under federal and state securities, derivatives, and banking laws. She counsels fund sponsors on addressing regulatory compliance issues related to securities laws, with particular focus on the Investment Advisers Act and Investment Company Act, and also has experience advising on fintech and digital asset regulation. Ms. Smith-Sandy also regularly provides guidance to financial institutions including private and registered funds and investment advisers on the application of the Securities Act, Investment Company Act, and Investment Advisers Act to varying regulatory and corporate matters. Such guidance includes, without limitation, questions pertaining to federal and state registration requirements, Advisers Act compliance obligations, and preparing for U.S. Securities and Exchange Commission (SEC) examinations. She has significant fund documentation experience, including drafting and negotiating documentation regarding the formation and launch of venture capital, hedge funds, funds of funds, co-investment programs, and separately managed accounts focused on investment strategies ranging from traditional venture capital to token and cryptocurrency ventures. In anticipation of the effective date of the Corporate Transparency Act (CTA), and FinCEN beneficial ownership information requirements, Ms. Smith-Sandy has spent considerable time advising fund sponsors regarding the application of the CTA reporting requirements to fund sponsors and affiliated entities and fund vehicles.
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