The Corporate Transparency Act is Finally Effective: What You Should Know
I. Executive Summary: The Corporate Transparency Act (“CTA”) is finally effective January 1, 2024. Enacted in 2021, the CTA requires certain U.S. and foreign entities to disclose beneficial information for purposes of combatting illicit activity, including money laundering, tax fraud, and terrorism financing. Under the CTA, certain domestic and foreign companies are required to disclose […]