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FRIDAY, ELDREDGE & CLARK, LLP is a full-service law firm representing businesses, nonprofits, healthcare organizations, government entities and individual clients in Arkansas and across the United States.

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CORPORATE TRANSPARENCY ACT

November 12, 2024

Key Reminders as Deadline Approaches

The penalties for failing to comply with CTA beneficial ownership reporting can be significant. The law provides that any person that willfully fails to comply or willfully provides false information may be subject to civil penalties of up to $500 per day and criminal penalties of up to $10,000 and two years in prison.  

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