Sep 18, 2023

The Property Line: Unmasking Beneficial Ownership - Corporate Transparency Act Implications for CRE

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The Corporate Transparency Act (CTA) was passed in 2019 to address the use of legal entities in money laundering, the financing of terrorism, and other illegal activities. Commencing on its effective date of January 1, 2024, the CTA will require affected legal entities to disclose information about their beneficial owners and controlling parties to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The CTA is set to impact an estimated 32 million companies, including most commercial real estate entities.

In this episode, Russ Robertson and Trevor Tullius join James O’Brien for a discussion on what this means for the industry and why commercial real estate owners should begin preparing now in order to comply with the reporting requirements.

The Property Line™ is a brief and lively discussion of the biggest issues facing the commercial real estate industry. The podcast will deliver insights from Seyfarth's real estate lawyers and other industry leaders on current market trends and how they impact all facets of commercial real estate. 

If you have a question about this topic, ideas for future episodes, or are interested in being a guest speaker, please reach out to us.

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