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The CTA, BOI and FinCEN: What Does this Mean for Pinellas Park, FL Businesses?

The Corporate Transparency Act may require certain U.S. companies to disclose beneficial ownership information to FinCEN, aiming to curb financial crimes. While a Texas federal district court’s preliminary injunction puts this requirement on hold, many experts expect that to be overturned. In that event, failure to file could lead to fines of $500 per day, up to a maximum of $10,000, and possible criminal penalties. Read more for details on how this may impact your business in the future. 1.