Entities Face Looming Reporting Requirements—Preparing for the Knowns and Unknowns of the Corporate Transparency Act
The Corporate Transparency Act (“CTA”), which takes effect on January 1, 2024, requires certain small- and medium-sized US corporations, LPs, LLCs, and similar closely held entities to report certain company information and beneficial ownership information to the US Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”). The CTA is expected to apply to 32 million entities […]