Rule 37.6 - Corporate Transparency Act Beneficial Ownership Information Reports(1)Purpose. The purpose of this rule is to clarify that it is not the unauthorized practice of law for nonlawyers to assist clients in determining whether such clients are required to file Beneficial Ownership Information Reports pursuant to the Corporate Transparency Act (31 U.S.C. 5336) and to prepare, complete, and file Beneficial Ownership Information Reports on behalf of their clients with the Financial Crimes Enforcement Network, a bureau of the U.S. Department of the Treasury.(2) Beneficial Ownership Information Report defined. For purposes of this Rule 37.6, "Beneficial Ownership Information Report" means any reports or other information that are required pursuant to the Corporate Transparency Act (31 U.S.C. 5336), including, without limitation, initial reports, updated reports, corrected reports, and exempt reports.(3) Scope of practice authorized. It is not the unauthorized practice of law for nonlawyers to assist their clients in determining whether such clients are required to file Beneficial Ownership Information Reports pursuant to the Corporate Transparency Act (31 U.S.C. 5336) and to prepare, complete, and file Beneficial Ownership Information Reports on behalf of their clients with the Financial Crimes Enforcement Network, a bureau of the U.S. Department of the Treasury.Comm. Unauth. P. Law 37.6
Court order September 9, 2024, effective 9/9/2024.