The Corporate Transparency Act (CTA) is a federal law that requires most U.S. businesses to disclose their beneficial ownership information to promote transparency and combat money laundering. The law went into effect on January 1, 2024, and imposes specific reporting requirements on qualifying entities.

A federal district court judge in Texas issued a preliminary injunction on December 3, 2024, blocking the enforcement of the Corporate Transparency Act pending further hearings (and a final, permanent injunction).  That decision is currently on appeal, but FinCEN cannot enforce the reporting rule or the deadlines until the injunction is lifted. 

Reporting companies, which include most domestic and foreign entities such as LLCs, corporations, and partnerships, are required to file a Beneficial Ownership Information (BOI) Report. This course details the specific types of entities that fall under the definition of a reporting company and clarifies any exemptions that may apply.

You can file your BOI Report using either the web-based FinCEN form or by submitting a PDF version. This course provides a step-by-step guide on both methods, ensuring you understand the filing process and what information is needed.

As of December 3, 2024, a preliminary injunction is in place blocking FinCEN from enforcing the Corporate Transparency Act.  That injunction is now being appealed, but FinCEN cannot enforce any penalties while it is in place.  

Under the law as written, failure to file a BOI Report by the applicable deadlines can result in significant penalties. Civil penalties can reach up to $591 per day, and there are also potential criminal penalties, including fines of $10,000 and up to 2 years in prison for willful violations.

You will have access to the course materials for the life of the course, which continues until the course is retired, with a 30-day notice provided to enrollees prior to retirement. This ensures you can revisit the content whenever needed.

We offer $99 BOI Consult Calls, where you can speak directly with an attorney to get answers to your specific questions. Additionally, we provide a done-for-you filing service to handle the submission of your BOI Report if you prefer not to file it yourself.

Yes! We offer a money-back guarantee if you watch the entire course and request a refund within 10 days of purchase. This allows you to try the course risk-free.

Absolutely! The course is on-demand, meaning you can complete it at your convenience. You can pause, rewind, and revisit the materials whenever you need.

No, purchasing this course does not establish an attorney-client relationship with A Better Business or any of its attorneys. The course provides educational resources and guidance on the Corporate Transparency Act and filing BOI Reports. If you would like to consult with an attorney, you can schedule a BOI Consult Call for personalized legal advice.