Comply w/2024 FinCEN Reporting Rules, Avoid $500 Daily Penalty

Length: 60 Minutes Expert: Blake R. Gerney, Esq.
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Effective Jan. 1, 2024, your practice must comply with the new FinCEN reporting requirements or face the potential penalties of $500 per day (or even jail time).

FinCEN (the Financial Crimes Enforcement Network) administers the recently implemented Corporate Transparency Act. This new rule requires your practice to report specific personal and business data to comply – unless you meet one of the few exemptions.

This year, small- to medium-sized healthcare businesses — from mental health to dental practices and beyond — are required to register with FinCEN and meet its Beneficial Owner Information Reporting requirements by submitting your information into the appropriate sources and continually maintaining its accuracy as changes occur.

The only way you’ll be able to accurately submit your data to FinCEN is to master the requirements that apply to your specific practice. On the plus side, you don’t have to figure it out alone.

Nationally recognized corporate and business attorney Blake Gerney, Esq. is here to help. During his online training event, Blake will walk you through the specifics of the Corporate Transparency Act and help you comply with the new FinCEN reporting rules by pinning down how they apply to you.

Here are just a few of the step-by-step, plain-English FinCEN reporting strategies that you will receive during his 60-minute online training:

  • Accurately calculate reporting timelines to avoid missed deadlines
  • Differentiate “owners” from “beneficial owners” to identify whose info to include
  • Implement a failsafe monitoring program to prompt you when reporting rules change
  • Uncover when and if you can refuse to share owner personal information
  • Identify key FinCEN reporting requirements to head off hefty fines
  • Quickly determine who is and isn’t considered a “mandatory reporter” under the law
  • Verify and document whether your practice is exempt from reporting
  • Nail down how to report multiple businesses owned by one entity
  • And much, much more!

The Corporate Transparency Act is NOT going away – the law mandates that you comply with FinCEN reporting requirements. Failure to do so can open your practice up to possible penalties of $500 per day and even potential jail time of up to two years. That’s why this upcoming online training is a must-attend for every practice.

Don’t put your practice at risk this year. Register for Blake’s practical online training to ensure your compliance with the new FinCEN reporting requirements. Don’t delay. Register right away!

Meet Your Expert

Blake R. Gerney

Blake is a member of the law firm of Brennan, Manna and Diamond, LLC.  With nearly 30 years of legal experience, Blake’s practice focuses on business law. He works with a variety of company types, including healthcare businesses. His specific areas of practice include, but are not limited to, regulatory compliance, corporate and limited liability company governance, contracting, mergers and acquisitions, employment and non-competition, and business formation.

Blake has presented multiple trainings, including implementation of the Beneficial Ownership Information Reporting Rule under The Corporate Transparency Act. Also, he was recently honored to receive inclusion in The Best Lawyers in America®, Corporate Law for 2024 and is one of only 11 Certified Specialist in Business, Commercial and Industrial Real Property Law with the Ohio Bar Association.