As of January 1, 2024, the Corporate Transparency Act (“CTA”) has gone into effect. Companies that may be Reporting Companies of Beneficial Ownership Information (“BOI”) should be aware.
From Wall Street to Main Street to your street, the vast majority of private and many nonprofit entities, will be swept into Corporate Transparency Act (CTA) compliance.
On November 29, 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an update to the Corporate Transparency Act (CTA), extending the.
The Corporate Transparency Act (“CTA”) comes into effect January 1, 2024, imposing significant reporting obligations for millions of privately held entities, called Reporting Companies..
FinCEN has published the Access Rule on who may access Beneficial Ownership Information, but the CTA still has its critics, and the costs of compliance will be high.