About the Corporate Transparency Act (CTA)
ACECBIT - Business Ownership Information Reporting
Corporate Transparency Act Summary
Please see these compliance tips.
News from Katharine Mottley at ACEC National on 11/5/2024: The CTA was designed to disrupt money laundering and terrorist financing and it requires certain businesses to file Beneficial Ownership Information reports with the Financial Crimes Enforcement Network (FinCEN) at Treasury. BOI reports must be filed by existing firms by December 31, 2024.
Firms with 20 or fewer employees and firms with less than $5 million in gross receipts must file BOI reports with FinCEN.
Larger firms may also be required to file BOI reports, depending on their structure. For example, some large firms have holding companies that do not house any employees and that type of entity could fall under the CTA.
ACEC is continuing to work with the Main Street Employers coalition to delay implementation of the CTA until FinCEN does more to communicate these requirements to affected businesses, but in the meantime Katharine wanted to be sure that ACEC members have this information.
ACEC/MA members only pay the ACEC/MA member rate for registration. Check the ACEC/MA Member Directory to see if your firm is an ACEC/MA member. If your firm is an ACEC/MA member, you are a member.
Important: You must use the account, including the username and password, of the individual you wish to register.
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IMPORTANT: Altering your name or contact information during registration will overwrite your record in our membership database. Please do not share your login information with anyone else.
If you have additional questions regarding registration, contact us at 617/227-5551 or acecma@engineers.org.
Registration is processed through the ACEC/MA associated website, www.engineers.org. ACEC/MA is supported by the staff of The Engineering Center Education Trust.
