Hot Topics in Estate Planning for Owners of Private Companies - Part 2
In the latest installment of Private Company Strategies, William D'Angelo and Adam Diederich are again joined by Kevin Matz, Private Clients, Trusts & Estates Partner at ArentFox Schiff, to discuss the hottest topics in estate planning for owners of private companies.
In the second of this two-part series, Bill, Adam, and Kevin discuss in depth the Corporate Transparency Act (CTA), which will require certain covered private companies (such as LLCs that don’t qualify for exemption) to disclose information about themselves, their company applicants, and their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) of the US Department of Treasury. The CTA becomes effective on January 1, 2024, and will drastically impact private companies by imposing significant new reporting obligations upon many of them. This podcast explains how private companies can start preparing for the CTA.