Topic: Navigating the New Norm: A 7-Month Check-in on the Corporate Transparency Act

Join MPA for in person Corporate & Securities Sectional Lunch Meeting sponsored by Cogency Global Inc. at Larkin Hoffman in Minneapolis. In person or remote option available.

The Corporate Transparency Act (CTA), a groundbreaking federal law, took effect on January 1, 2024. In the most recent installment of our CTA webinar series, CTA Part 7: Navigating the New Norm, a 7-Month Check-in on the Corporate Transparency Act, our presenter, Pia Angelikis, Esq., VP of Government Relations and Legal Research, will provide the most current information available since our 4-month check-in, including analysis of the new Federal challenges to the CTA along with an updated status of NSBU v. Yellen, a discussion of the new FAQs that FinCEN issued on June 10 and a refresh on reporting requirements and deadlines in conjunction with navigating the Beneficial Ownership Information (BOI) Report. Additionally, she will discuss penalties for non-compliance with a focus on FinCEN’s latest FAQ regarding penalties, take an in-depth look into the subsidiary and inactive entity exemptions and highlight the remaining unclear issues since Part 6 of the series.

In this webinar, we will discuss:

• Legislative and judicial challenges to the CTA

• Details on the new US District Court cases initiated since NSBU v. Yellen: The case declaring the CTA unconstitutional currently on appeal with the Eleventh Circuit

• Reporting requirements and key terms, with practical information regarding the BOI Report

• Update on number of BOI Reports filed to date as compared to FinCEN’s estimate of the number of non-exempt reporting companies required to file in 2024

• Navigating the BOI Report

• Discussion of the latest guidance FinCEN issued on June 11, including an FAQ on the Large Operating Company Exemption

• A deep dive into subsidiary exemption and inactive entity exemption

• Status of FinCEN’s third set of rulemaking (CDD revisions) and review of penalties for non-compliance

• Remaining issues and what’s next.

Speaker: Pia Angelikis, Esq. 

Pia Angelikis, Esq., is the VP of Government Relations and Legal Research at Cogency Global Inc. She has over 20 years of experience with premiere service companies in the UCC and corporate services industry, managing large teams of expert lawyers and paralegals conducting legal research for public filing requirements for multistate mergers, conversions and acquisitions, tracking and analyzing UCC Article 9 and business entity legislation in all 50 states and the District of Columbia, and providing thought leadership.

Ms. Angelikis has in-depth knowledge of UCC Article 9 filing requirements and best practices for due diligence searching, as well as of service of process, and business entity laws related to public record filings for formations, foreign qualifications, mergers, conversions, reinstatements, withdrawals, change of agent, and corporate compliance. She has domain expertise in maintaining annual report calendaring systems. As a government relations liaison, Ms. Angelikis served as chair of the eFiling Committee of the Science & Technology section of the American Bar Association from 2005 – 2013. In the course of this work, she managed the drafting of Best Practices for Electronic Service of Process. Her current role as Director of Government Relations includes working closely with state administrators when they implement new and revised business entity laws and electronic filing systems. Prior to her career in the UCC and corporate services industry, Ms. Angelikis litigated for 5 years in the areas of insurance defense and employment law. She wrote the winning brief resulting in the 9th Circuit published opinion, In re Complaint of Ross Island Sand & Gravel, 226 F.3d 1015 (9th Cir. 2000). Ms. Angelikis holds a JD from the University of California, Hastings College of the Law and a Bachelor of Arts in History from the University of California at Los Angeles. She is licensed to practice law in California.

Remote attendance is available.

Lunch will be provided for in-person attendees.

• Member Cost: Free
• Non-Member Cost: $15

CLE credit has been applied for this session.

Please RSVP by August 21, 2024.

Sponsored by: Corporate & Securities Sectional

If you have any questions or concerns, please contact Patty Meagher at pmeagher@mmm.com.