In light of the Corporate Transparency Act (“CTA”) becoming effective since the last time we entered into an engagement letter with you, we are sending you these additional terms that apply whenever we form a new entity for a client.
You agree that (i) we may use a third-party provider to complete the filing necessary for entity formation, (ii) our services will include a review and analysis of whether the newly formed entity is obligated to make an initial report to the Financial Crimes Enforcement Network (“FinCEN”), and (iii) you will pay the fees and costs associated with these services. If it is determined that the entity is a reporting company under the CTA, you can either engage us to assist with the initial filing with FinCEN or we will refer you to a third-party provider for purposes of you completing such filing.
If we agree to assist you with the preparation or filing of reports with FinCEN, you agree that (i) we may use a third-party provider to complete the filing, (ii) you will pay the fees and costs associated with these services, and (iii) you will be responsible for collecting and submitting the required information and documentation relating to the entity’s beneficial owner(s) to such third-party provider in time to permit the filing of the report before the applicable deadline.
You agree that you will fully cooperate with us and the third-party provider as needed to provide the foregoing services, and you represent and warrant that all information you provide relating to any CTA filing, including information pertaining to the entity’s beneficial owner(s), will be accurate and complete.
We have no ongoing obligation to provide any reminders or make any inquiries regarding, or provide any advice relating to, the preparation or filing of any updated reports with FinCEN on behalf of a reporting company and/or a beneficial owner. Services relating to updated reports required by the CTA will be provided by us only pursuant to the terms of a written engagement letter wherein we agree to provide such services. You are solely responsible for compliance with requirements of the CTA that may be applicable to you as a reporting company and/or as a beneficial owner.
These terms will not be affected by any communication we may have with you on the subject of the CTA that are not in a written engagement letter.