Tune in to this special spotlight episode of Left Field Investors as we shine a light on the intricacies of the Corporate Transparency Act with expert syndication attorney Mauricio Rauld. This episode is packed with valuable insights on compliance, penalties, and best practices for LLC owners to navigate this new legislation. Get the inside scoop on what you need to know to ensure compliance and protect your investments!
About Mauricio Rauld
Mauricio Rauld is an experienced syndication attorney and former asset protection attorney with a wealth of knowledge in syndications and corporate law. He is well-versed in LLC formation, asset protection, and entity formations, having set up thousands of LLCs over the past 15-20 years. Mauricio’s expertise lies in helping syndicators stay in compliance with federal securities laws and ensuring the protection of limited partners in investment deals. As a co-host of the “Drunk Real Estate” podcast, Mauricio brings a unique and approachable perspective to the legal aspects of real estate investing. His down-to-earth style and practical advice make him a valuable resource for investors navigating the complex regulatory landscape.
Key Points From The Episode:
1. The Corporate Transparency Act requires LLCs to provide the government with personal information about beneficial owners to prevent nefarious activities such as terrorism, money laundering, and hiding assets.
2. LLC owners have one year to comply with the Corporate Transparency Act for existing entities active before January 1, 2024, while new LLCs must comply within 90 days of filing.
3. The penalties for non-compliance with the Corporate Transparency Act can result in civil penalties of $500 per day per entity and criminal penalties, including imprisonment and fines up to $250,000, for intentional violations.
4. For assistance with compliance, individuals and organizations with multiple LLCs can seek help from legal professionals who can assist with the filing process, which typically costs between $200 and $250 per filing.
00:00 Welcome to the show
02:52 Who is Mauricio Rauld?
03:45 What is the CTA?
04:40 Who gets to see this info?
05:30 Who is affected?
08:23 What info is needed?
10:04 When does this need to be filed?
14:13 What are the penalties for not complying?
16:16 Who needs to file?
19:42 Being in a group LLC
21:10 Owning a low percentage of a LLC
22:11 Who can help me comply?
23:58 Where to find the report
24:57 Thank you for watching
Contact The Guest:
Check Out This Book:
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