The CTA is on everyone's minds now, because entities formed prior to January 1, 2024 only have until the end of the year to file their Beneficial Ownership Information Reports (BOIRs),.
The Corporate Transparency Act (“CTA”) is a newly effective federal law that requires certain entities to report their owners to the U.S. Department of the Treasury’s Financial Crimes.
Background and Summary - A new federal law, the Corporate Transparency Act (CTA), went into effect on January 1, 2024. The CTA requires that most entities file Beneficial.
On January 1, 2024, the Corporate Transparency Act (the “CTA”) will go into effect. The CTA is a U.S. law (31 U.S. Code § 5336), enacted January 1, 2021, that aims to combat money.