The Corporate Transparency Act (CTA) introduces beneficial ownership reporting requirements effective January 1, 2024, for new and existing companies. Below is an overview of the new reporting obligations imposed by the CTA....more
12/19/2023
/ Beneficial Owner ,
Corporate Transparency Act ,
Financial Institutions ,
FinCEN ,
Jurisdiction ,
Law Enforcement ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
National Security ,
Ownership Interest ,
Penalties ,
Reporting Requirements ,
Smaller Reporting Companies
Beginning January 1, 2024, the US Corporate Transparency Act (CTA) will require “reporting companies” to submit a report to the Financial Crimes Enforcement Network (FinCEN) containing personal information about the reporting...more
On December 11, 2020, and by a veto-proof majority, the US Senate joined the House of Representatives in passing the National Defense Authorization Act for Fiscal Year 2021, which includes the Corporate Transparency Act (the...more