The Corporate Transparency Act (CTA) was enacted by Congress to counter money laundering, terrorism, and other illicit activity. The CTA, whose initial regulations take effect on January 1, 2024, comes with a host of reporting requirements for approximately 32 million pre-existing private entities in 2024, and five million new reporting entities each year thereafter. Under the CTA, entities, unless exempted, will be required to report basic information about certain of their beneficial owners. These entities were not generally previously required to report beneficial ownership information to the government.
By understanding who is required to disclose information about those who form and own or control the entity, businesses can prepare for these reporting obligations.
During this fast-paced webinar, attendees will gain an understanding of what is required under the CTA, including:
New steps for forming entities
Additional obligations during the life cycle of new and existing entities
Necessary steps existing entities need to take to comply with the new law