The commercial law section of the Delaware State Bar Association (DSBA) is scheduled to host an upcoming hybrid CLE titled “Beneficial Ownership Information Reporting Under the Corporate Transparency Act.”

The Corporate Transparency Act, which requires businesses to file a beneficial ownership information report with a bureau of the Department of Treasury known as FinCEN, is set to take effect on Jan. 1, 2024. This legislation will likely impact 32 million business entities as well as the lawyers that handle their formation. Noncompliance may result in harsh civil and criminal penalties.