How to Stay Compliant: The Corporate Transparency Act

If you’re a small business owner—or work with them—you’ve probably been hearing a lot of chatter about the Corporate Transparency Act (CTA). It’s one of those regulations that’s easy to overlook but carries big consequences for non-compliance. Think $591 per day, per entity in penalties, plus potential jail time. Yeah, it’s no joke.When I first learned about the CTA, my immediate thought was, “How are small business owners supposed to navigate this?” Starting and running a business is already hard enough without adding another layer of bureaucracy. That’s why I invited Frank Tumminello, co-founder and CEO of Fileforms to speak with me. Frank is one of the leading voices on BOI (beneficial ownership information) compliance, and his team has created an amazing tool to make this process as painless as possible.During our conversation, Frank explained what the CTA is all about:* Why the U.S. government now requires businesses to disclose their beneficial owners.* The staggering penalties for failing to comply or filing late.* How Fileforms provides a streamlined solution to keep businesses compliant with just a few clicks.For small business owners, it’s not just about paperwork—it’s about protecting your livelihood.What I appreciated most about our discussion was how actionable Frank’s advice was. Whether you’re already navigating this regulation or just learning about it for the first time, this episode will give you the clarity and tools you need.I’d love to hear your thoughts after you tune in. Have you started addressing the CTA requirements? Do you feel prepared, or is this all news to you? Drop a comment below or share your experiences—I’m here to help keep the conversation going.#SmallBusiness #Compliance #CorporateTransparencyAct #Podcast #MoneyInTheBankWithFranck This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit franckcushner.substack.com