Attention Business Owners: We Can Help You Complete Your Corporate Transparency Act Filing By Larry Parman
process, between now and September 30, 2024, we are prepared to help you complete your filing . We cannot assist beyond that as the year-end crunch would overwhelm our staff capability. We will send you a list of questions to answer and complete and submit the form for you based on the information you provide. The fee for this service is $500 per entity. Call Lynn Mills or Amber Harrison in our office at 405-843-6100 to coordinate your requests for assistance. We will continue monitoring the CTA's legal journey. In the meantime, you can focus on running your business confidently, knowing you have a legal team watching your back. Our Wonderful Clients Speak Out: “The entire staff was gracious and helpful.” “My husband and I had been thinking about a will and estate plan for several years and never moved forward because we didn’t know where to start. It seemed like such a daunting task.
The legal landscape is always changing. Despite the legal uncertainty regarding the Corporate Transparency Act (CTA), we recommend you comply with the requirements in 2024 . If you own a business or we created an entity for you as part of your estate plan, you might wonder about filing deadlines. Our advice is to comply with the filing requirements. Completing your CTA report sooner rather than later ensures it's out of the way, no matter the final legal outcome. Here are the details of the CTA and what you should do. The CTA: A Quick Recap This law and its reporting requirements aim to combat money laundering and other financial crimes. The CTA, which went into effect January 1, 2024, requires “reporting companies” in the United States to disclose information regarding its beneficial owners, i.e., the individuals who ultimately own or control a company, to the Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”). Reporting companies include both domestic and foreign entities. Domestic reporting companies include corporations, LLPs, LLCs, or any other similar entities created by filing a document with a secretary of state or any similar office under the law of a state. Reports are to be filed with the Oklahoma Secretary of State. In some of your states, other agencies are responsible for approving entity formations. Our Advice: File! The penalties for non-compliance are severe. They include hefty fines and possible jail time, making completing the CTA report critical. Although the law is being challenged in court, the risk is not worth it. Our Offer You can go to the Oklahoma Secretary of State’s website, download the form, and complete it yourself. For those uncomfortable or uncertain about that
We received a mailer from Parman and Easterday for an informational presentation. We weren’t sure what to expect (high pressure sales pitch?) but were pleasantly surprised by the professional and no- pressure approach. We learned about potential pitfalls
that never crossed our mind and quickly realized we needed help.
If you or anyone you know would like to receive this free newsletter, please call 405-843-6100 to request being added to our mailing list. We scheduled an appointment with Maris, who was friendly, knowledgeable, patient and professional. She made the entire process easy, letting us know precisely what was required and was always responsive to our needs. The entire staff was gracious and helpful. We couldn’t be more satisfied and highly recommend this firm (and Maris) for your estate planning needs. ” Scott and Diana Schaeffer; Oklahoma City, OK
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