This is a client safety alert from Semanoff Ormsby Greenberg & Torchia, LLC regarding recent fraudulent correspondence and phishing attempts concerning the federal Corporate Transparency Act (“CTA”) which took effect on January 1, 2024.

The Financial Crimes Enforcement Network (“FinCEN”) has issued an ALERT regarding fraudulent attempts to solicit information from individuals and entities who may be subject to the reporting requirements under the CTA.

FinCEN DOES NOT SEND UNSOLICITED REQUESTS FOR PERSONAL INFORMATION.

► DO NOT respond to unsolicited correspondence regarding the CTA.

► DO NOT click on any links received in unsolicited correspondence regarding the CTA.

► DO NOT scan any QR codes provided in unsolicited correspondence regarding the CTA.

► DO contact us if you receive and are unsure of any unsolicited correspondence regarding the CTA.

Summary of the Corporate Transparency Act (“CTA”)

• Regulations took effect on January 1, 2024 which may obligate your company to file reports with the Department of Treasury’s Financial Crimes Enforcement Network or FinCEN.

• Reporting companies in existence prior to January 1, 2024 now have until January 1, 2025 to file a Beneficial Owner Report with FinCEN.

• Phishing attempts may be titled “Important Compliance Notice” or “Notice of Federal Filing Requirement” and ask the recipient to click on a URL or to scan a QR code. FinCEN does not send unsolicited requests for personal information. Such e-mails, texts, letters, phone calls or websites are fraudulent. Do not respond to unsolicited messages or click on any links or scan any QR codes within them.

• Beneficial Owner Reports should only be filed directly through the FinCEN website https://www.fincen.gov/boi

• Our firm has generated a checklist designed to help you prepare for filing your company Beneficial Owner Report. Click here for the CTA checklist.

• Contact Maggie Gillespie at mgillespie@sogtlaw.com, Kathleen McClay at kmcclay@sogtlaw.com or Susan Ricci at sricci@sogtlaw.com with any questions you may have.