Neal & Wright LLC

Neal & Wright LLC Visit us at www.nealandwright.com!

12/25/2024

Sharing congratulations with our associate Jodi and her husband Boyang, who welcomed the birth of their daughter on December 20!

03/06/2024

The following notice was sent to all current and former corporate formation clients, but we want to make sure the public is informed as well.

There is a new law which is in effect starting this year requiring certain information about ownership of legal entities (like LLCs and corporations) to be reported to an agency of the Department of Treasury called the Financial Crimes Enforcement Network (“FinCEN”). In 2021, Congress passed the Corporate Transparency Act to restrain bad actors from using multiple or layered “shell” corporations and other entities to obscure fraudulent schemes. The goal of the legislation is to prevent these activities by requiring personal information of certain “beneficial owners” to be identified and associated with most legal entities operating in the United States. Sole proprietorships and general partnerships are not currently included in these requirements.

Beneficial owners include those persons who “exercise substantial control” over a company or owners of 25% or more of the ownership interests in a company. (The rules also apply to owners of legal entities that own other legal entities). Generally, the information to be reported will include each beneficial owner’s legal name, date of birth, residential address, and the identification number of an acceptable ID, such as a passport or driver’s license. An image of the ID will also need to be included. This information will not be publicly available but will be available to federal, state, and local law enforcement agencies upon need-to-know. Financial institutions (e.g., banks) may also access this information upon authorization from the reporting entity (i.e., you).

For existing companies created or registered before January 1, 2024, filing must be done by January 1, 2025. For companies created after January 1, 2024, filing must be received by FinCEN within 30 days of the registration of the company with the applicable Secretary of State. There will be no fee for submitting a report. There are both civil and criminal penalties for failure to comply with the CTA, which are quite aggressive. Though there is no annual requirement to submit a report, an updated report will need to be filed if there is any change in required information within 30 days after that change. “Any change” could be simply a change of address of a beneficial owner; it is defined broadly.
I encourage you to look at the FAQ that has been posted by FinCEN and continues to be updated here: https://www.fincen.gov/boi-faqs

Based on our own experience in filing our Beneficial Ownership Information Report (BOIR) application, we believe that in most cases, this is something that most people will be able to do without professional assistance. You will, however, need to be sure to have a few things readily accessible to you as you proceed through the application portal, notably, (a) a form of ID (like a driver’s license or a passport) for each beneficial individual owner of your entity (generally someone who has equal to or greater than 25% ownership in your entity – whether directly or through some other entity), (b) the residential addresses and dates of birth for all such individuals, and (c) the EIN of the organization for which you are filing the application.

The portal can be found here: https://boiefiling.fincen.gov/ There is no filing fee. Please engage a professional if you are unsure whether these requirements apply to you.

12/24/2023

Our firm will be closed on December 25, December 26, and January 1 in honor of the holiday season. We wish you and your family happy holidays and look forward to serving you in 2024.

11/24/2023

We are closed today! Happy Thanksgiving!

Join our estate planning attorney, Jodi Greenberg, as we review common pitfalls seen in our practice. This free seminar ...
08/30/2023

Join our estate planning attorney, Jodi Greenberg, as we review common pitfalls seen in our practice. This free seminar will run 30 minutes with time for questions at the end.

07/25/2023

Check out our new and improved website! It includes all of our contact information, questionnaires, and video content at the same web address we've always had: nealandwright.com

06/16/2023

Neal & Wright LLC will be closed on Monday, June 19 in observance of Juneteenth.

Hi there everyone!We have an office in our building to rent to an attorney. If you know anyone who is interested (or yo...
05/12/2023

Hi there everyone!

We have an office in our building to rent to an attorney. If you know anyone who is interested (or you yourself are interested) please DM us! Information is attached. Thanks!

Two months and my plant and plethora of sticky notes show I'm at home here. 🏡
02/28/2023

Two months and my plant and plethora of sticky notes show I'm at home here. 🏡

01/15/2023

Neal & Wright will be closed on Monday, January 16 in observance of MLK Day.

Address

40 Franklin Street, Suite 100
Avondale Estates, GA
30002

Opening Hours

Monday 9:30am - 6pm
Tuesday 9:30am - 6pm
Wednesday 9:30am - 6pm
Thursday 9:30am - 6pm
Friday 9:30am - 6pm

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Your Family... Your Business... Your Firm!

Neal & Wright LLC is a family owned and operated firm based in the City of Decatur, Georgia, approximately five miles from Downtown Atlanta. We offer experienced and personalized legal services to individuals and businesses in the Metro Atlanta area in the fields of adoption, business law, estate planning, probate, commercial real estate, corporations, intellectual property, and other business transactions. Our disparate fields of practice reflect the varied backgrounds of our two founding partners, Sherry V. Neal and Daniel S. Wright.

📷Our motto is “Your Family… Your Business… Your Firm!” This statement is intended to convey our commitment to assist our clients with both their family- and business-related legal needs and also to express our firm philosophy.