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Dear PATG Supporters:

The Corporate Transparency Act will create significant privacy concerns for families, family businesses, and family offices.

Specifically, this bill:
  • Requires corporations and limited liability companies to disclose their true, beneficial owners to FinCEN at the time the company is formed.
  • Establishes minimum beneficial ownership disclosure requirements: companies must provide beneficial owners’ name, date of birth, current address, and driver’s license or non-expired passport number.
  • Requires companies to file annually with FinCEN a list of its current beneficial owners, as well as a list of any changes in beneficial ownership that occurred during the previous year.
  • Provides civil and criminal penalties for persons who willfully submit false or fraudulent beneficial ownership information, or who knowingly fails to provide complete or updated beneficial ownership information.
Watch this short 7-minute video to see the details and the likelihood that something will pass in the month of September!!
Stay safe and healthy,
Pat Soldano
President; Policy and Taxation Group
[email protected]
712 H Street NE Suite 1091
Washington DC 20002
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