INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.

Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed David C. Japha.

The David C. Japha Commentaries

On a recent Price of Business show, Host Kevin Price interviewed David C. Japha, Levin Jacobson Japha, P.C.

1. Opening Hook

“There’s a new federal law that affects over 32 million businesses—and most owners have never heard of it.”

What Is the CTA?
- Passed as part of the 2021 NDAA, effective Jan 1, 2025
- Requires most small businesses to report Beneficial Ownership Information (BOI) to FinCEN
- Designed to fight money laundering, but impacts nearly everyone
Who Must Report? Any LLC, corporation, or other entity formed by filing with a Secretary of State
- Exemptions exist (e.g., large operating companies, banks, nonprofits)
- Must identify every individual with significant control or 25%+ ownership

4. Risks of Noncompliance

$500 per day in civil fines

Criminal penalties: up to 2 years and $10,000 for willful violations
Potential trap: business owners who don’t even realize they’re covered

5. What to Do Now

Identify who the beneficial owners are

Prepare and file BOI via the FinCEN website
Update records if ownership changes
Consult counsel to avoid triggering fines

6. Closing Takeaway

“You don’t need to be a shell company in Panama to get caught by this law. If you own an LLC, the CTA is your problem—and the clock is ticking.”

“The best litigation is the one you never have. Treat a partnership like a prenuptial: plan for the split while everyone’s still smiling.”

Over his more than three decades of practice, David Japha has earned a reputation for resolving difficult and complex matters, sometimes being the second or third lawyer to take on a case. David has tried many criminal and civil cases to conclusion and argued numerous appeals, post-conviction cases and cases involving mental health issues. He also currently represents clients in federal and state administrative matters, including ongoing matters before the Consumer Products Safety Commission. David got his start in litigation before leaving the University of Denver College of Law, where he tried his first DUI case in state court through a program called the student law office. He also negotiated settlements and argued his first administrative appeal before the Social Security Administration in the winter of 1984, before his law school graduation in May of that year. Soon after starting out, David shared office space with his current partners, Don Jacobson and Daniel Levin at Ptarmigan Place. There he learned law office management hanging out his shingle and doing evictions, collections and court-appointed federal criminal cases. And, it was there, in federal court, that David truly cut his teeth in criminal defense litigation, culminating in his appointment to the Criminal Justice Act committee (which oversaw the appointment of conflict counsel in federal court) by then-Chief Judge Richard Matsch. Over 30 years of practice has given David the opportunity to be involved in some amazing cases, including taking depositions in Katmandu, Nepal in a complex criminal case in 1991; representing a witness in the trial of Timothy McVeigh (where David was also a credentialed reporter for the Intermountain Jewish News); handling criminal matters in Nebraska, Kansas and California and appearing in Washington State. David has been an expert witness for the Colorado Supreme Court Office of Regulation Counsel in the area of attorney fees for court appointed counsel.

Learn more at https://www.ljjlaw.com/attorney-profiles/david-japha/.

Connect with David on social media:

LinkedIn: https://www.linkedin.com/in/david-japha-23937912/