CTA poses ‘institutional risk’ for many farmers

UNL Center for Ag Profitability warns of fines, penalties for non-compliance

The UNL Center for Agricultural Profitability warns that farmers who have incorporated their businesses could face hefty fines and even imprisonment for failing to report their beneficial ownership information to the Financial Crimes Enforcement Network.
The UNL Center for Agricultural Profitability warns that farmers who have incorporated their businesses could face hefty fines and even imprisonment for failing to report their beneficial ownership information to the Financial Crimes Enforcement Network.

When considering the sources of risk in agriculture, many producers recognize institutional risk as a risk that is growing in impact and importance. Institutional risk pertains to people outside the business causing change that affects the business. It includes government rules, regulations, and policies.   The Corporate Transparency Act (CTA), enacted in 2021, is one example of a recent chan…