New Sweeping Reporting Rules and Key Steps to Comply

Many restaurant companies face unanticipated federal reporting requirements which must be met by the end of the 2024, according to the Corporate Transparency Act (CTA). Enacted in 2021 to prevent illegal activities by anonymously owned entities, the CTA mandates that beneficial owners who exercise “substantial control” over the reporting company–or control at least 25% of company–must disclose information to a Department of Treasury agency by January 1, 2025. Company names, d/b/a names, taxpayer identification numbers, individual information, and more will be reported. Non-compliance can result in major fines.

In this webinar, you will learn:

• What kinds of companies must report under the CTA
• The information needed to comply as a beneficial owner
• Which simple steps can help with compliance and safeguard your business from any penalties
• How to plan for a multi-year effort to protect beneficial ownership data

• Peter Haukebo, Esq., Partner, Frost Law
• Rebecca Sheppard, Esq., Partner, Frost Law
• Aaron Frazier, Vice President of Public Policy, National Restaurant Association