The federal Corporate Transparency Act (CTA) became effective on January 1, 2024, and despite multiple challenges and ongoing court cases, the CTA remains in effect. The CTA requires many entities to file beneficial ownership...more
1. What Is the Corporate Transparency Act and Why Was It Enacted? Congress enacted the Corporate Transparency Act (CTA) on January 1, 2021, to address concerns that the inaccessibility of U.S. companies’ beneficial ownership...more
12/5/2023
/ Beneficial Owner ,
Corporate Transparency Act ,
Filing Requirements ,
Financial Crimes ,
Financial Services Industry ,
FinCEN ,
Limited Liability Company (LLC) ,
PCAOB ,
Personal Information ,
Reporting Requirements ,
Subsidiaries ,
Tax Exemptions ,
Trustees
Beginning on January 1, 2024, many U.S. legal entities and foreign entities registered to do business in the U.S. will be required to report information about themselves, their beneficial owners, and their company applicants...more
10/26/2023
/ Acquisitions ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Beneficial Owner ,
Business Ownership ,
Corporate Transparency Act ,
Customer Due Diligence (CDD) ,
Filing Requirements ,
Financial Institutions ,
FinCEN ,
Legal Entities ,
Popular ,
Reporting Requirements ,
Securities Exchange Act of 1934