James (Jay) O'Neil is the CEO of CTASafe, a compliance technology and consulting company focused on helping small and closely held businesses meet the Corporate Transparency Act (CTA) reporting requirements. With a background in law, Jay combines legal expertise with practical solutions for businesses facing new regulatory obligations. His experience includes guiding clients through complex compliance laws, and he works closely with accountants and business attorneys to streamline CTA compliance and ensure accuracy in reporting.

Navigating the complexities of new regulations can be daunting for small business owners, especially when the stakes are high. The Corporate Transparency Act (CTA), recently enacted, requires businesses to report detailed ownership information to avoid hefty fines. But what exactly does this mean for your business, and how can you ensure compliance?

According to Jay O'Neil, a seasoned attorney and expert in compliance law, the CTA aims to create a comprehensive database to help prevent money laundering and other financial crimes. He highlights that the law applies to any small business entity registered with the Secretary of State, provided it meets specific size and revenue thresholds. While the Act’s intentions are clear, the details are complex, from identifying beneficial owners to understanding filing deadlines. Jay emphasizes that missing the January 1, 2025, deadline could result in severe financial penalties, making it crucial for business owners to understand and address these requirements now.

In this episode of the Pillar6 Podcast, host Roman Polnar speaks with Jay O'Neil, CEO of CTASafe, to discuss the challenges and obligations of CTA compliance. They cover essential details on reporting requirements, potential penalties for non-compliance, and how CTASafe’s platform helps streamline the process for small businesses. Jay also shares practical advice for staying compliant in the face of evolving regulations.

• Roman M. Polnar on LinkedIn
• Pillar6 Advisors
• James (Jay) O'Neil: LinkedIn | Email
• CTASafe: Website | Free Consultation | Email | Pricing
• CTASafe Coupon Codes: $20 off of one time filing (PILLAR61FILE) | $400 off of concierge consulting options (PILLAR61124)
• Law Offices of James O'Neil
• Corporate Transparency Act (CTA)
• Financial Crimes Enforcement Network (FinCEN)
• Love in the Time of Cholera by Gabriel García Márquez