Ensure Your Law Firm is CTA-Compliant
Navigating the Corporate Transparency Act Doesn’t Have to Be Complicated. Let O’Rielly & Roche LLP Help Your Firm Stay Compliant.
Experienced legal guidance for law firms to meet the new Corporate Transparency Act requirements and avoid penalties.
The Corporate Transparency Act (CTA) requires law firms and other businesses to report detailed information about their beneficial owners to the government. Failing to comply can lead to significant penalties. At O’Rielly & Roche LLP, we focus on helping law firms understand these new requirements and ensure full compliance so you can focus on your clients.
CTA reporting is a mandatory new business filing requiring many law firms to submit their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) in 2024. This requirement comes from a new law called the Corporate Transparency Act that was passed to enhance the government’s efforts to combat money laundering, terrorist financing, and other financial crimes. This reporting requirement started in 2024 and it is enforced by potentially significant penalties– including fines of $500 per day up to $10,000.
Most law firms that have to submit CTA reports must comply by the end of 2024.
We make the process of analyzing and completing CTA reporting requirements safe, easy, and secure for law firms:
We provide practical and real-world counsel and advice that law firms can implement to resolve emergent issues and acute situations involving practice management and legal ethics. This includes managing and resolving real-time legal and ethical issues that arise in law practice, including:
- Analyzing whether the CTA applies to your law firm;
- Assessing whether your firm qualifies for exemptions to reporting requirements;
- Calculating reporting deadlines for your law firm; and
- Compiling and submitting the CTA reporting details on our secure reporting platform
Because we work exclusively with law firms, our reporting process for your law is practical and efficient: we help you to analyze the requirements applied to your practice; identify, gather, and verify the reporting information; and submit the necessary reporting to FinCEN, all on our secure online platform.
