As you may know, the Corporate Transparency Act ("CTA") is set to take effect on January 1, 2024 ("Effective Date"), impacting many privately held corporations.
Beginning on January 1, 2024, the Corporate Transparency Act (the “CTA”) will require all “Reporting Companies” to report to the federal Financial Claims Enforcement Network (“FinCEN”).
Beginning next year, the Corporate Transparency Act (“CTA”) will require most smaller companies to report information regarding their beneficial owners to the Financial Crimes.
On Jan. 1, 2024, the first final rule ("BOI Rule") implementing the Corporate Transparency Act ("CTA") will take effect requiring certain legal entities formed or registered to do business in the US.
This article updates and provides new information and guidance and replaces our original article dated August 3, 2023. On January 1, 2024, the Corporate Transparency Act.