Free webinar on beneficial ownership information reporting requirement

The Internal Revenue Service announced that on Nov. 19, the agency will offer a free webinar to aid businesses in reporting beneficial ownership information to the U.S. Treasury Department’s Financial Crimes Enforcement Network as part of the Corporate Transparency Act.

Representatives from the network will lead the webinar on the reporting requirement, which will cover beneficial ownership information reporting, the Corporate Transparency Act, filing resources and consequences of failing to report the information to the Financial Crimes Enforcement Network. The IRS noted that the provision was established to prevent money laundering.

Businesses must file their beneficial ownership information by Jan. 1, 2025.

Read more: IRS

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